WYOMING — Precise CNC Routing Inc., a family-owned and operated manufacturer based in Wyoming, Mich., has been acquired by local investors.
David and Carey Lefere bought the company from CEO Rick Lemson, who established Precise CNC Routing in his garage in 1995 and is ready to retire with his spouse and company CFO Laura Lemson, according to the family.
“I thought it was an exciting type of opportunity for my wife and I to get involved in and to take over,” David Lefere told MiBiz. “The business has been around 25 years and it has staying power. It’s gone through the ups and downs that normal, small and medium-sized businesses go through. It’s a really good opportunity for new energy, new ideas to reinvigorate the employee base and increase sales presence.”
Lefere, who is a business attorney with Mika Meyers LLC, said the company will maintain its management team, which includes the former owners’ son, son-in-law and nephew.
“It was important (Lemson) continues his legacy of employing his family members, and that’s something that they can have and be proud of,” Lefere said. “As a buyer, that’s something that we looked really, really hard at during the due diligence, and I found that these individuals can be very, very productive and beneficial to the company. The company is only as good as the people inside and we’re going to try to tap into that.”
Precise CNC Routing employs 16-18 people and generates around $2 million in annual revenue, according to Lefere. Terms of the deal were not disclosed.
The company boasts a wide range of services including wood powder coating, fulfillment, CNC machining, plastic fabrication, digital printing and screen printing out of a 66,000-square-foot facility.
“It is multifaceted, but a lot of the times, we’re doing those things within one job, ” Lefere said. “If we cut an office tabletop, we’re using our CNC routers to cut the tabletop, cut the holes and then we powder coat it. Then, there may be some plastic assembly that goes with it. There are good synergies.”
Matt Uhl, mergers & acquisitions associate at Grand Rapids-based Calder Capital LLC, served as the M&A adviser for Precise CNC Routing in the deal.