Current Investments
NHI Mechanical Motion, LLC
www.nhi-mfg.com
Founded in 1960, NHI together with its distributor division, Phoenix Distribution, is one of the largest U.S. manufacturers and distributors of mechanical motion parts and assemblies, serving the outdoor power equipment, power transmission, material handling, farm & agriculture, and elevator markets, among others. NHI is an ISO 9001:2015 quality certified American manufacturer, based in Claremont, NH, with global supply chain management and distribution capabilities. The Company offers in-house product design, research & development, testing and process engineering services to support high-quality parts production and assembly with a focus on continuous cost improvement. Specific manufacturing capabilities include metal stamping, injection molding, machining, split forming, and assembly. The Company also has extensive distribution capabilities and significant capacity for additional growth in its new 140,000 sq ft facility.
NHI is trusted by many of the largest OEM’s in target markets including Briggs & Stratton, Gates, Generac, Husqvarna, John Deere, Mitsubishi Caterpillar, MTD Products (Cub Cadet, Troy-Bilt), Toro, and Tuff Torq.
NHI’s Phoenix Distribution division supplies products to large retailers such as Tractor Supply, Northern Tool, and Rural King. Phoenix also sells direct to consumers through e-commerce channels such as Amazon.com, Walmart.com, and its own web site. Phoenix is a high-growth, high-margin business that has successfully leveraged the Company’s manufacturing, sourcing, warehousing, inventory management systems, engineering, and sales capabilities.
Makers Forward, LLC partnered with management and acquired NHI in December 2019. In the short time since, the company has initiated growth with existing customers and is the process of launching new mechanical motion products in a new distribution channel, the agricultural and mining industry.
Accudynamics, LLC
www.accudynamics.com
Accudynamics is a custom component manufacturer for several industries with a particular specialty in the medical diagnostics equipment market. Founded in 1984, the business has grown over three decades into a highly respected manufacturer of machined products and assemblies. The design for manufacturing engineering team has extensive experience and successes helping customers meet difficult design and quality requirements and then focusing on improving costs during production life cycles. The operations and assembly teams follow strict quality control protocols and utilize advanced CMM equipment throughout the facility to ensure performance.
Accudynamics is a trusted supplier to many globally respected brands such as Siemens, Abbott, Beckman Coulter, and many others. Located in Lakeville, Massachusetts, Accudynamics is growing its business through expanding its existing customers as well as earning business with new customers in various industries.
Makers Forward, LLC followed a familiar path of partnering with management to acquire Accudynamics from Aragra Corporation in January 2021.
Previous Investments
PowerShot Tool Company, Inc.
PowerShot Tool Company, Inc (PST) was formed by a partnership between Makers Forward partners and Longwood Industries, Inc to acquire the consumer fastening business from Black & Decker. PowerShot become a top manufacturer and marketer of hand tool products such as staple guns, glue guns, rivet tools and accessories, to the major retail and professional contracting markets. The company assembled a top-notch management team that demonstrated dramatic growth in sales and profitability, achieving over 50% compound average growth rate top line and 60% CAGR in EBITDA.
The company successfully separated the operations from a Black & Decker facility while relocating and upgrading manufacturing technology into a new PST operation in Wytheville, Virginia. PST established distribution with the leading retailers including; Home Depot, Lowe’s, Sears, Ace Hardware, Canadian Tire, and several others, as well as being name a ‘vendor of the year’ at a leading retailer. During its five-year ownership the company increased productivity in manufacturing by more than 240% and output by more than 500%. The shareholders experienced an internal rate of returns (IRR) on the investment of more than 100%.
IDL TechniEdge, LLC
IDL TechniEdge, LLC was formed to acquire the assets of TechniEdge Manufacturing and Cardan Medical. Makers Forward partners, the selling family, and management partnered to re-establish TechniEdge as a leading blade manufacturer and marketer in North America. TechniEdge grew to become the largest US based manufacturer of several blade types, including single edge, hobby, chopper, mat and others. During its ownership TechniEdge more than tripled revenues and turned a money losing operation into a highly profitable enterprise.
The company successfully consolidated two manufacturing sites into a single larger operation in Kenilworth, New Jersey and invested in cutting edge manufacturing technologies to more than quadruple capacity and dramatically improving efficiency. TechniEdge partnered with major retail and OEM partners including Home Depot, Ace Hardware, TrueValue, Menards, Stanley, Milwaukee, Irwin, Lenox, X-Acto and many others to significantly increase market share. IDL TechniEdge, LLC investors returned more than a 4.5X return on the investment.
Investment Profile
North American based operations, generally with the following parameters:
Business type:
Manufacturing businesses
Home improvement
Machinery & Equipment
Consumer or Industrial durables
Business background:
Distressed Companies
Corporate Divestitures
Ownership transition or retirement
Various structures utilized
Business Size:
Revenue preference $25 to $125 million
Consider $10 to $200 million
EBITDA preference 0.1% to 10%
Consider up to 15%