Jimdi Plastics Inc., an injection molder in Allendale, Mich., has been sold to Michigan businessman Reed Lawrie.
The deal was finalized Dec. 31. Terms were not disclosed.
Jimdi Plastics operates out of a 40,000-square-foot facility with 60 employees. The company has 16 injection molding machines, with clamping forces ranging from 110-1,100 tons.
Jimdi Plastics' biggest end market is office furniture. Customers include Holland, Mich.-based metal fabricator Global Concepts Enterprise Inc., a supplier to modern furniture company Herman Miller Inc., according to the Jimdi Plastics website.
"Jimdi has a unique product mix. We successfully run low, medium and high volumes on a daily basis, and we do it well," Lawrie said in emailed responses to Plastics News.
In January, the company added a new agriculture customer, he said, with the potential to add two more customers outside of that market before the end of the year.
Over the next year or two, Lawrie plans to expand capabilities for Jimdi Plastics' value-added, assembly and secondary operations. He's also looking to grow the company's existing presence in the automotive sector and expand into the recreation and marine markets.
"The company has been on a steady growth curve over the past three years," Lawrie said. "We expect a 10 percent growth this year and that number to increase in 2020."
This is the first plastics company Lawrie, of Troy, Mich., has purchased. Though he has held various management and sales positions, working with several companies in the plastics industry throughout his career.
"I have always been involved in manufacturing," Lawrie said. "It is a passion of mine."
Lawrie spent the majority of his career as a manufacturer's representative, most recently working for Kenmar Corp. With the acquisition of Jimdi Plastics, he is now gearing up for a move to Grand Rapids, Mich., about 15 miles east of Allendale, to be closer to the injection molding company. He's also preparing to launch a new website and logo for the business in April.
Jimdi Plastics, founded in 1997, was previously owned by Jay DeWitt, Gary Stroven and Richard Schrotenboer. Praxis Business Brokers LLC in Grand Rapids, Mich., served as the sell-side adviser for the transaction.
"We had a lot of interest — literally from coast to coast," Michael Greengard, president of Praxis Business Brokers, said in a phone interview.
Greengard had previously worked with Schrotenboer on the sale of his hog flooring business in 2017. Jimdi Plastics was the molder of the proprietary plastic product, Greengard said.
DeWitt is staying on as general manager at Jimdi Plastics. Schrotenboer is the Allendale facility's landlord.
"We have a great team at Jimdi, and we are developing a strong culture," Lawrie said. "That culture is rooted in quality, the customer and teamwork."
