Published in Manufacturing

Entrepreneurs acquire Iroquois Hoods

BY MIBIZ STAFF Tuesday, October 15, 2019 04:23pm

MUSKEGON — Iroquois Hoods Inc., a Muskegon maker of laboratory furniture with a focus on custom fume hoods, was acquired by entrepreneurs Rick Claypool and Nate Thornton.

Michael Gross, who acquired the company in 2001, decided to sell so he could retire, according to a statement. Gross plans to remain with the business to transition leadership. He connected with Claypool and Thorton through Grand Rapids M&A firm Calder Capital LLC, which represented Iroquois Hoods in the transaction.

COURTESY PHOTO

“I was particularly pleased with Nate and Rick’s strong background in business and manufacturing. Their drive, connections and business acumen have given me tremendous confidence in the future growth and continuity of Iroquois Hoods,” Gross said.

Iroquois Hoods produces low-volume fume hoods for clients primarily in the higher education, scientific, manufacturing and governmental sectors. 

Terms of the deal were undisclosed.

The deal was the 18th of 2019 for Calder Capital, tying the firm’s record for closings in a year.

“We have a significant number of sellers under contract and fully expect to end 2019 on a record-smashing pace,” said Max Friar, managing partner at Calder Capital.

Read 2032 times Last modified on Tuesday, 15 October 2019 16:29
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