Cliff Croley became chief executive at Blackhawk in May 1999 when Key Equity Capital, the predecessor of Blue Point Capital Partners, acquired the long-established automotive plastics operations from Columbus, Ohio-based steel processor Worthington Industries Inc.
The new owners have invested heavily in the Salem, Ohio-based firm, which they renamed Blackhawk Automotive Plastics. Blackhawk today operates three Ohio plants, runs 135 injection presses, employs nearly 1,800 people and generates annual sales of about $220 million. It also has an ownership stake in the minority-owned automotive molder Nescor Plastics Corp. of Mesopotamia, Ohio, and is one of three finalists for the 2003 Plastics News Processor of the Year Award.
Croley has extensive financial and operations experience as an owner/operator, adviser and temporary chief executive of several middle-market companies in 20 different industries. Even though Blackhawk was not a turnaround, Croley has participated in 45 different company turnarounds. Prior to joining the molder, he was an adviser to Blue Point Capital and served on several boards.