For more than 40 years now, West Michigan Tool & Die, Inc. has been riding the manufacturing wave through good times and lean. Now, the company founded in 1977 by Jerry Jackson and the late Claron Carlson, will take on the next 40 year run with a new private investor partner interested in taking the dynamic little company to the next level.
Second generation owner and operator Steve Jackson and his wife Laura are decidedly pumped over the future expansion they’ll have the opportunity to oversee thanks to their new partner, identified only as a Midwest-based private manufacturing investor who brings fresh working capital to the table to help generate new growth opportunities.
Jackson is proud of the fact that the company, tucked in behind the corner of Nickerson Avenue and M-139, “has always stayed true to my father’s vision of producing an exceptional product, operating debt-free, and employing some of the most talented tool-makers and lathe-turning operators in the industry.”
Jackson offers up proof of the stability and longevity of his talent, noting that West Michigan Tool & Die’s turnover rate remains extremely low with the average length of employment per employee is more than 15 years.
By anchoring operations from that same Benton Harbor base since its inception, West Michigan Tool & Die has also maintained and strengthened its commitment to the business community. Jackson says, “It’s always been important to build relationships with local businesses and municipalities, and show them we have the same commitment to the financial stability of our community as they do.”
As the company marked the 40-year milestone last year, the Jacksons renewed their search for ways to make operational improvements and steadily increase the company’s profitability in both the near and long term future. Steve says, “The industry and our customer-base has changed significantly over the years. We knew we wanted to pursue other up-and-coming opportunities in manufacturing, but were hesitant to take on debt.” He adds, “We were thrilled when an investor approached us.”
Thanks to a deal struck on Good Friday, the multi-million dollar company is poised to double and even potentially triple sales through new equipment and skilled talent acquisitions. Jackson says, “This investor shares our vision and believes we can take WMTD to the next level together by maximizing operational efficiencies, improving company-wide profitability, and increasing working capital.”
Details of the private deal were not released, and the new investor, who essentially becomes a shareholder, remains unnamed, as planned.
If new equipment is added, as planned, the company will likely expand its physical footprint through new construction. Jackson says thanks to their 10-acre site, the company has the additional real estate and commercially-zoned properties for future expansion, so the company can stay right where they are and continue to grow. Meanwhile, Steve and Laura Jackson will continue to oversee all daily operations and shepherd the 16 employees currently on staff.
WMTD expanded in 1996 to include ARK Industrial Machining, their CNC Lathe Division, to accommodate additional customer requests. The company is part of the local Tool & Die Renaissance Recovery Zone, a member of the North American Die Cast Association, and a registered ISO 9001-2000 compliant company since 2003.
West Michigan Tool & Die customers include multiple Tier 1 automotive suppliers, direct vendor codes with both GM and Whirlpool, and a diverse collection of automotive and non-automotive clients.
Jackson says, “This is an exciting venture for our family, our employees, our customers, our vendors, and our community.” And now…it’s an exciting venture for their new private investor shareholder ready to hit the next level. Stay tuned.
