Jackson Tumble Finish of Jackson, Michigan, has been sold to VSP Ventures of Ferndale, Michigan.
Denise LoseyJackson Tumble Finish was founded by President Denise Losey’s late husband, Ken, who operated the company until 2006. After his passing, Losey assumed full ownership and the role of president.
Founded in 1956, Jackson Tumble Finish provides a variety of metal conversion coatings, including phosphate, pickle, black oxide, tumbling/vibratory deburr, shot blast, passivation, and brite dip services.
Stephen Gross, CEO of VSP Ventures, brings a decade of corporate leadership experience, including time at General Motors. He says his vision is to preserve Jackson Tumble Finish’s culture while growing the business and continuing to serve its valued customers and employees.
“After managing the company for 15 years, I am confident that Steve will carry Jackson Tumble Finish forward with integrity and care,” Losey says. “I’m eager to assist him in leading the company before I fully retire. He truly appreciates the culture we’ve built here, and I know he will continue to support the employees and customers who are the heart of this business.”
Gross says he is excited to take the helm of Jackson Tumble Finish and build upon the strong foundation that Losey has established.
“Her dedication to the company and its people is inspiring, and I look forward to leading with that same level of care and commitment,” he says.
Garrett Monroe of Calder Capital served as the lead Mergers and Acquisitions Advisor to Jackson Tumble Finish. He says there was strong market interest in Jackson Tumble Finish. Through Calder’s on-market process, the CIM was sent to 120 qualified buyers, and Jackson Tumble Finish ultimately received eight offers.
Losey expressed her appreciation to Calder Capital and Monroe.
“If it wasn’t for Garrett, I am not sure I would have made it through this process,” she says. “He very professionally guided me through all the really tough spots, right up to the end. He deserves a lot of credit for this closing actually happening.”
Mindi Johnson and Amanda Dernovshek of Foster Swift provided legal counsel for Jackson Tumble Finish, and Gary Davison of Davison & Associates, CPA, served as the CPA. Seth T. Seidell at Seidell Law served as VSP Ventures’ legal counsel. Old National Bank provided financing for the buyer.
