Calder Capital is thrilled to announce the successful acquisition of Portland Products by entrepreneurs Rick Slater and Ben Greve, backed by Sleeping Giant Capital (SGC) of Kalamazoo, MI.
Ben Greve, with a mechanical engineering background from Western Michigan University, and Rick Slater, a Michigan Technological University graduate, were seasoned senior sales engineers who, over time, felt a growing desire to own all or part of the business that they spent their careers devoted to helping. When internal opportunities did not materialize at their previous places of employment, they partnered with SGC to pursue business ownership.
Sleeping Giant Capital, founded in 2020 by Derrick McIver and Doug Lepisto, focuses on enabling a new generation of leaders in West Michigan to acquire and grow businesses. The firm, with a long-term fund, supports professionals in becoming owner-operators and drives investment growth through a platform dedicated to equipping entrepreneurs with the tools and resources to effectively source, lead, and grow a successful business.
Ben and Rick engaged Calder Capital’s Buy-Side team to source quality off-market acquisition candidates. Ben and Rick were ideal candidates as they eagerly connected with owners and met face-to-face to establish rapport and quickly vet opportunities.
Calder Capital’s targeted search connected the group with Portland Products, a reputable automotive interior metal manufacturer and supplier since 1947, known for its focus on employee well-being with its team of 100+, and its strong customer loyalty.
“Rick and I are looking forward to strengthening Portland Product’s position as a premier supplier of metal stampings, hinges, and engineered mechanisms to the automotive, heavy truck and off-road markets,” said Ben Greve. Slater added, “we are also excited to set the standard for world class manufacturing in the Sleeping Giant Capital portfolio of companies.”
“Portland Products has always been blessed with an exceptional team of talented, dedicated people. We are a family,” said Ted Alberta, former President of Portland Products. “The new owner-operators, Ben Greve and Rick Slater, along with the backing of Sleeping Giant Capital, showed us that they focus on values similar to ours as defined in our PEPPS motto: People, Excellence, Performance, Professionalism, and Service. Their strategic focus on growing West Michigan companies and commitment to community support gave us great comfort. As they build upon the foundation of excellence provided by the Sprague family over the past seventy-seven years, we are excited to see how Ben and Rick can propel Portland Products to the next level!”
Sam Scharich of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Ben Greve, Rick Slater, and Sleeping Giant Capital. Serving as Lead Director was Hannah Nabhan of Calder Capital.
Calder’s Buy-Side team led an aggressive search process that resulted in 11 introductions to off-market sellers before Ben, Rick, and SGC signed an LOI with Portland Products. The transaction was closed in less than 5 months, through their partnership with Calder’s Buy-Side team.
“Ben and Rick are dynamic achievers who collectively will bring a strategic and innovative perspective to Portland Products,” Nabhan commented. “It’s rewarding to see a longstanding relationship with Portland Products join forces with talented individuals supported by local, family-oriented investors. Best wishes to everyone involved as they embark on the exciting venture ahead!”
“What is noticeable immediately about Ben and Rick is their energy,” commented Max Friar, Calder’s Managing Partner. “Beyond their industry experience and drive, they have a unique shared combination of quick-start energy that you don’t often see in partnerships. I am not surprised at how quickly they jumped out of the gate and made a successful acquisition. Best of luck to SGC, Rick, Ben, and the Portland team!”
Calder Capital served as the exclusive Buy-Side Mergers and Acquisitions Advisor to Sleeping Giant Capital.
About Sleeping Giant Capital
Sleeping Giant Capital is a Kalamazoo, Michigan-based investment firm focused on acquiring and operating lower middle market businesses in Michigan. Founded with a mission to provide opportunities for the next generation of entrepreneurial operators, Sleeping Giant Capital partners with talented individuals to acquire stable, cash-flowing businesses poised for growth. The firm specializes in long-term value creation through operational excellence, strategic investment, and fostering local leadership. To learn more, please visit www.SleepingGiantCapital.com.
About Portland Products
Founded in 1947, Portland Products is a leading manufacturer of precision metal components for the automotive industry. Headquartered in Portland, Michigan, the company operates three facilities and employs over 100 individuals. Portland Products specializes in supplying interior metal components to Tier 2 and Tier 3 automotive suppliers, including industry leaders such as Magna and Faurecia. The company has been recognized for its commitment to safety and operational excellence, earning the MSHARP Award, a distinction held by only a select group of manufacturers in Michigan. To learn more, please visit www.PortlandProducts.com.
About Calder Capital
Founded in 2013, Calder Capital is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Calder serves business owners, entrepreneurs, family offices, financial buyers, and investors. Learn more at www.CalderGR.com.
