After being part of the JSJ Corp. portfolio of companies for nearly 80 years, metalworking equipment and machine tool maker Dake Corp. has new owners.
The company was acquired by CNC machinery and woodworking equipment maker Laguna Tools Inc. of Irvine, Calif. in a deal that closed Nov. 20.
For Grand Haven-based JSJ Corp., the sale positions the firm to increase its investments in other high-growth companies in its portfolio, while the deal positions Dake with a new owner with an extensive distribution channel, according to a statement.
“While it’s not easy to part ways with a company that has been a part of the fabric of JSJ, this agreement is a true win-win-win,” JSJ Corp. Chairman and CEO Nelson Jacobson said in a statement. “Laguna Tools is adding an iconic brand with world-class products and an unbeatable team. Dake has an incredible opportunity to grow under the guidance of an industry veteran and leader. And JSJ is open to pursue new investments that align with our focus on growth, technology and innovation.”
Terms of the deal were undisclosed. JSJ Corp. was advised on the deal by Grand Rapids-based Charter Capital Partners and the law firm of Miller, Johnson, Snell & Cummiskey PLC. Read more at MiBiz