Mopec is a manufacturer of supplies for the pathology, histology, necropsy, autopsy, morgue and mortuary industries. Customers include Mayo Clinic, Duke University Medical Center and the Cleveland Clinic, among others. Mopec was founded in 1992 and currently employs 68 people at its 60,000-square-foot manufacturing and headquarters facility in Oak Park, MI (www.mopec.com).
Terry O’Rourke, former president of medical device manufacturer Aspen Surgical, will become the new CEO of Mopec. While at Aspen Surgical, Mr. O’Rourke helped grow the business from $25 million to $120 million in revenue over a six-year period.
“Mopec is the market leader in its field as a result of its advanced engineering and metal working capabilities, its focus on finding solutions to customer needs, and its passionate team of employees,” said Jeff Helminski, managing director of Blackford Capital. “We are honored to be partnering with Terry O’Rourke and the Mopec team in continuing the legacy that Rick Bell and George Hallman built, and we are committed to growing Mopec and creating jobs in Michigan.”
“I look forward to working with Mopec’s board, partners and staff to leverage the company’s well-respected reputation, and to increase revenues and add jobs,” said Mr. O’Rourke. “We expect great things from the future of our company and are proud to be a part of Blackford’s vision for Michigan’s future.”
“We are excited to be partnering with Blackford Capital and new CEO Terry O’Rouke,” said Barry Peterson, managing partner of Northcreek Mezzanine. “We are confident the new leadership team will build upon the success of the founders, fostering continued growth and taking the business to even higher levels.”
Blackford Capital invests in middle-market manufacturing, distribution, and service companies in both mature and growing industries. Target companies will have revenues of $20 million to $100 million and EBITDAs of $2 million to $20 million. Blackford’s Michigan Prosperity Fund made its first acquisition last September, buying Custom Profile, a plastic molder that supplies components to the appliance, office furniture and marine industries. Custom Profile was founded in 1992 and is based in Grand Rapids, MI (www.custom-profile.com). In total, Blackford has seven portfolio companies employing more than 950 people with combined revenues of approximately $225 million. Blackford has offices in Grand Rapids, MI (headquarters) and Santa Monica, CA (www.blackfordcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-7-13