Mergers and acquisitions firm Calder Capital LLC recently announced that Grand Rapids, MI-based Nemic Inc. has acquired Benton Harbor, MI-based Brammall Supply through Nemic's subsidiary, JCT Industries.
Founded in Benton Harbor in 1873, Brammall Supply is one of the oldest industrial distributors in Michigan. The company has served a wide variety of industries over the years, concentrating most recently on cutting tools and abrasives for the metalworking industry. Brammall has been owned by three generations of the Ankli family since 1940 and is the largest independent industrial distributor in Southwest Michigan.
According to Calder Capital, the Nemic family represents just the fourth family to own Brammall Supply in over 140 years.
"After lengthy deliberations, we made the difficult decision to transition our family-owned business to new ownership," said Ken Ankli, former president of Brammal Supply. "After signing with Calder Capital, we were presented with and considered numerous inquiries and offers from different types of buyers. While we had the opportunity to sell to larger companies, ultimately we made the decision to sell to Nemic Industrial Supply. Nemic has a similar history of being family owned and client centric. Their decision to keep Brammall as an independent entity that will continue to serve its clients locally was an important factor in our decision."
Terms of the deal were not disclosed.
"We had been looking for ways to grow our presence in west Michigan and southwest Michigan," said JCT Industris co-owner Jason Nemic. "Brammall Supply has an excellent reputation in the industry and we felt that this was a great opportunity for us to take that next step. We deliberately chose to keep Brammall as an independent company. We plan on utilizing best practices from both organizations to further improve the customer experience. Brammall customers will continue to work with the same people that they have in the past and will have access to the same product lines they have always had. We are very excited about the future of both companies."