Calder Capital, LLC is pleased to announce the sale of Brammall Supply Inc. of Benton Harbor, MI to JCT Industries, LLC (affiliated with Nemic Inc. of Grand Rapids, MI). Founded in Benton Harbor in 1873, Brammall Supply is one of the oldest industrial distributors in Michigan. The company has served a wide variety of industries over the years, concentrating most recently on cutting tools and abrasives for the metal working industry. Brammall has been owned by three generations of the Ankli family since 1940 and is the largest independent industrial distributor in Southwest Michigan.
The Nemic family represents just the fourth family to own Brammall Supply in over 140 years. “After lengthy deliberations, we made the difficult decision to transition our family owned business to new ownership. After signing with Calder Capital, we were presented with and considered numerous inquiries and offers from different types of buyers. While we had the opportunity to sell to larger companies, ultimately we made the decision to sell to Nemic Industrial Supply. Nemic has a similar history of being family owned and client centric. Their decision to keep Brammall as an independent entity that will continue to serve its clients locally was an important factor in our decision,” said Ken Ankli, former President of Brammall Supply Company.
JCT Industries co-owner Jason Nemic of stated, “We had been looking for ways to grow our presence in West Michigan and Southwest Michigan. Brammall Supply has an excellent reputation in the industry and we felt that this was a great opportunity for us to take that next step. We deliberately chose to keep Brammall as an independent company. We plan on utilizing best practices from both organizations to further improve the customer experience. Brammall customers will continue to work with the same people that they have in the past and will have access to the same product lines they have always had. We are very excited about the future of both companies.”
“We absolutely love transactions like Brammall / Nemic,” stated Max Friar, Managing Partner of Calder Capital, LLC. “Two long-standing family-operated Michigan companies joining forces, keeping Michigan jobs and serving Michigan and Northern Indiana customers is a beautiful thing. 2017 continues to be a strong year for small and middle market M&A and it is a sincere blessing when we are able to consummate transactions where price, terms and culture meet harmoniously.”
Calder Capital served as the exclusive M&A Advisor to Brammall Supply. Pankaj Rajadhyaksha served as Calder’s lead advisor to Brammall.
Thank you to MiBiz & GRBJ.com for covering the story!
