Hall Capital acquires another manufacturer
Hall Capital has welded on another acquisition. The Oklahoma City-based firm and two other partners bought another parts maker for automobiles and other applications, involved firms announced on Monday. The group that includes Westbourne Capital Partners and another private investor acquired Modineer Co. Inc. of Niles, Michigan, for an undisclosed price on Nov. 15. Officials said Modineer, which had been owned by the fourth generation of its founding family, is a manufacturer and fabricator of low- to medium-volume complex metal components and assemblies for the automotive, military, truck/ trailer and industrial markets. The company builds more than 35 million components and assemblies annually using stamping, roll forming, welding, machining, painting, e-coating and other specialty processes at nine facilities in Michigan, Indiana and Missouri that employ more than 800 workers. “We are excited ... to invest in Modineer to grow and expand the business for the benefit of our current and future customers, employees, and key stakeholders,” said John Kobza, managing director and chief operating officer at Hall Capital. Hall Capital, a family-owned private investment company with offices in Oklahoma City, Nashville, Chicago, Dallas, and Tulsa, extends its roots back to automotive pioneer Fred Jones’ first enterprise in 1920. Today, the business is led by Jones’ grandsons— Fred Hall, Kirkland Hall, and Brooks “Boots” Hall, Jr. — and it owns a diversified collection of business interests focused on investments in the automotive and real estate sectors. Hall Capital’s automotive platform
is The Fred Jones Companies, which has been involved in every aspect of the automotive industry on four continents, including remanufacturing transmissions and engines, distribution and reverse logistics for original equipment manufacturers, aftermarket parts and accessories, plus vehicle service and retail dealerships.
About two years ago, Hall Capital teamed up with another investor to buy a firm that built cargorelated accessories for cars and trucks.
Last year, its real estate division acquired one of the last eyesores on Oklahoma City’s skid row, the Oklahoma Clutch Supply building at 830 W Sheridan.
Officials said Modineer will focus on expanding its capabilities with existing customers while entering into new end markets with the support of its new owners.
They said it will be led by an experienced board of directors that includes Mike Laisure, a former president of Dana Corp.
Its management team, including Modineer’s CEO, Ed Hamilton, will remain in place.
“We are extremely excited to partner with the Hall Capital and Westbourne Capital teams,” said Hamilton. “While the company has been highly successful ... we are eager to take the next step.”