GRAND RAPIDS — Laser cutting service Laser Access LLC is under new ownership and plans to expand its facility in Walker.
Laser Access LLC is under the new joint venture ownership of AAABLITZBLOW USA Inc., a third-generation Tier 1 fabricator based in Grand Rapids, and Ohio-based U.S. Advanced Systems LLC, according to a joint announcement from The Right Place Inc. and Calder Capital LLC.
The new owners will expand the company’s 28,000-square-foot facility on Northridge Drive NW in Walker at an estimated cost of $1.6 million, according to the announcement.
Laser Access currently employs 28 people and provides 5-axis laser cutting, flat laser cutting, forming, and assembly and welding services to sheet metal fabrication companies and OEMs.
Former majority owner, Dan Szymanski, also owns aerospace and defense supplier Jedco Inc. Laser Access was originally established to bring 5-axis laser cutting in-house at Jedco.
The company offered its excess capacity to serve other customers in the region, and as the base of business grew, Szymanski decided to spin off Laser Access.
“We are looking forward to continuing the growth of Laser Access in the Walker community by adding new technologies and by merging the design, engineering and manufacturing capabilities of the new ownership companies into the outstanding team, culture and experience of Laser Access,” said Assy Okanin, the new co-owner and president Laser Access, said in a statement.
The deal would not have happened without the support of The Right Place and Calder Capital, Okanin added.
The Right Place connected Okanin to local opportunities available through Grand Rapids-based mergers and acquisitions firm Calder Capital, which resulted in the deal for Laser Access.
Out of 13 total business sales, Calder Capital has closed three deals for companies in the manufacturing sector so far this year, according to Max Friar, managing partner at Calder Capital.
“This is lower than our average of 40 to 50 percent historically and I do believe it is in part due to economic conditions in manufacturing,” Friar told MiBiz.
Calder Capital is currently working with approximately 15 companies under contract to sell their business, six of which are manufacturers.
Many more companies in the area are “facing leadership transitions,” according to Birgit Klohs, president and CEO of Grand Rapids-based The Right Place.
“These transitions can potentially put a company’s future growth in the region into question,” Klohs said in a statement. “We are pleased to have been able to connect Laser Access with new ownership committed to investing in the Greater Grand Rapids region and we look forward to helping them grow in Walker.”