- Blackford Capital acquired QAP in January 2016
- QAP was founded in 1990 and is headquartered in Hastings, Michigan
- Blackford targets lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries
Blackford Capital has sold Quality Aluminum Products, a maker of aluminum and steel products. The buyer is Gibraltar Industries, Inc, a manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets. No financial terms were disclosed.
Blackford Capital acquired QAP in January 2016.
Under Blackford’s ownership the family stakeholders retained a significant equity position. The family legacy and leadership, including Bob Clark as CEO, remained intact.
“Since our investment in QAP, our team has been honored to partner with the Clark family, QAP’s management team, and our esteemed group of limited partners to successfully grow and broaden the company’s business model,” said Jeff Johnson, managing director of Blackford and former chairman of QAP, in a statement. “The investments we made to expand its production capabilities position the company to accelerate and achieve its next phase of expansion. We have high confidence in the team’s ability to realize their numerous growth initiatives, as evidenced by the 17% annual revenue CAGR we experienced during our ownership period.”
QAP was founded in 1990. Headquartered in Hastings, Michigan, with a second location in Flat Rock, Michigan, Quality Aluminum offers aluminum siding, soffit, fascia, trim coil, rain carrying systems and other products.
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries.