Lurie Besikof Lapidus Private Investment Banking, LLC Announces the Acquisition of Jonaco Machine, LLC by Demmer Investments III, Inc.
Jonaco Machine, LLC (“Jonaco”), a portfolio company of Denali Partners, LLC has been acquired by Demmer Investments III, Inc., an entity formed by the shareholders of Demmer Corporation (“Demmer”).
Minneapolis, MN, November 30, 2010 --(PR.com)-- Jonaco Machine is a Chaska, Minnesota-based precision machining supplier for the aerospace/defense, medical, and high technology industries, utilizing the latest in production technology with a variety of metals, alloys, castings, and plastics to create high quality components. The Company’s existing management team, including President Rick Green, will continue in their roles as operators of the business. Green said, “Jonaco is delighted to be joining the Demmer organization. The Demmer commitment to growth and customer satisfaction provide a strong platform for Jonaco’s continued growth. We believe that the acquisition brings great benefit to Jonaco’s employees and customers alike.”
Demmer Corporation is a Lansing, Michigan-based vertically-integrated manufacturer that provides fabrication, machining, assembly and integration to companies in the defense, aerospace, automotive, energy, and transportation industries.
Bill Demmer, President and CEO of Demmer Corporation, stated, "Jonaco fits Demmer Investments acquisition strategy well. Jonaco has a strong management team with a focus on LEAN manufacturing combined with continued growth. Jonaco's culture is also a good match with Demmer Investments portfolio of companies. We look forward to continued development.”
Demmer employs two million square feet of state-of-the-art production space to produce components and perform assembly for battle tanks, personnel carriers, bomb-resistant vehicles, and more. Jonaco Machine is Demmer’s fourth acquisition in 2010 and second in the Twin Cities.
Sten Sjoberg, Chief Operating Officer of Demmer Corporation commented, “We are happy to welcome Jonaco and its great workforce to the family of Demmer Investments group of companies. We see an excellent fit in culture and planned growth. The combination with other entities in the group will open the doors for great business opportunities in the future.”
Justin Besikof, President of Lurie Besikof Lapidus Private Investment Banking said, "In our second transaction working with Demmer, they have continued to prove themselves as an excellent buyer. Demmer is actively looking to acquire precision metal fabricators with strong customer relationships, great employees and robust growth prospects.”
Legal counsel for the transaction included Fredrikson & Byron, P.A. advising Jonaco Machine and Foster Swift Collins & Smith, P.C. advising Demmer Investments III, Inc.
About Lurie Besikof Lapidus Private Investment Banking, LLC
Lurie Besikof Lapidus Private Investment Banking, LLC is a mergers and acquisitions (M&A) advisory firm that specializes in the sale of lower middle market companies in the niche manufacturing, value-added distribution, business services and specialty retail spaces with $5 million to $100 million in annual revenue. Please visit www.lblpib.com for more information.
About Jonaco Machine, LLC
Jonaco Machine, LLC is a full-service machining supplier serving top players in the aerospace/defense, medical, and high technology industries. The Company has a broad base of capabilities in high quality production, engineering and design. Please visit www.jonaco.com for more information.
About Denali Partners, LLC
Denali Partners, LLC is a private equity firm focusing on growing small and medium sized business. Denali is led by team of seasoned executives with significant operational and entrepreneurial experience. Please visit www.denalipartners.com for more information.
About Demmer Corporation
Demmer Corporation, based in Lansing, Michigan, is a vertically-integrated manufacturer that provides fabrication, machining, assembly and integration to companies in the defense, aerospace, automotive, energy, and transportation industries. Demmer employs two million square feet of state-of-the-art production space to produce components and performs assembly for battle tanks, personnel carriers, bomb-resistant vehicles, and much more. Please visit www.demmercorp.com for more information.
###
Demmer Corporation is a Lansing, Michigan-based vertically-integrated manufacturer that provides fabrication, machining, assembly and integration to companies in the defense, aerospace, automotive, energy, and transportation industries.
Bill Demmer, President and CEO of Demmer Corporation, stated, "Jonaco fits Demmer Investments acquisition strategy well. Jonaco has a strong management team with a focus on LEAN manufacturing combined with continued growth. Jonaco's culture is also a good match with Demmer Investments portfolio of companies. We look forward to continued development.”
Demmer employs two million square feet of state-of-the-art production space to produce components and perform assembly for battle tanks, personnel carriers, bomb-resistant vehicles, and more. Jonaco Machine is Demmer’s fourth acquisition in 2010 and second in the Twin Cities.
Sten Sjoberg, Chief Operating Officer of Demmer Corporation commented, “We are happy to welcome Jonaco and its great workforce to the family of Demmer Investments group of companies. We see an excellent fit in culture and planned growth. The combination with other entities in the group will open the doors for great business opportunities in the future.”
Justin Besikof, President of Lurie Besikof Lapidus Private Investment Banking said, "In our second transaction working with Demmer, they have continued to prove themselves as an excellent buyer. Demmer is actively looking to acquire precision metal fabricators with strong customer relationships, great employees and robust growth prospects.”
Legal counsel for the transaction included Fredrikson & Byron, P.A. advising Jonaco Machine and Foster Swift Collins & Smith, P.C. advising Demmer Investments III, Inc.
About Lurie Besikof Lapidus Private Investment Banking, LLC
Lurie Besikof Lapidus Private Investment Banking, LLC is a mergers and acquisitions (M&A) advisory firm that specializes in the sale of lower middle market companies in the niche manufacturing, value-added distribution, business services and specialty retail spaces with $5 million to $100 million in annual revenue. Please visit www.lblpib.com for more information.
About Jonaco Machine, LLC
Jonaco Machine, LLC is a full-service machining supplier serving top players in the aerospace/defense, medical, and high technology industries. The Company has a broad base of capabilities in high quality production, engineering and design. Please visit www.jonaco.com for more information.
About Denali Partners, LLC
Denali Partners, LLC is a private equity firm focusing on growing small and medium sized business. Denali is led by team of seasoned executives with significant operational and entrepreneurial experience. Please visit www.denalipartners.com for more information.
About Demmer Corporation
Demmer Corporation, based in Lansing, Michigan, is a vertically-integrated manufacturer that provides fabrication, machining, assembly and integration to companies in the defense, aerospace, automotive, energy, and transportation industries. Demmer employs two million square feet of state-of-the-art production space to produce components and performs assembly for battle tanks, personnel carriers, bomb-resistant vehicles, and much more. Please visit www.demmercorp.com for more information.
###
Contact
Lurie Besikof Lapidus & Company, LLP
Christy Piotrowski
612-377-4404
www.lblco.com
Christy Piotrowski
612-377-4404
www.lblco.com
Contact
Categories