Joe Alam III, Managing Partner of Mid-States Advisors
"Great Lakes Woodworking has built an exceptional 40+ year reputation for quality craftsmanship, and it was important to identify a partner that valued the legacy and people."
Transaction Recap
GLW Detroit (GLW), headquartered in Detroit, Michigan, has been acquired by Iroquois Industrial Group (“IIG”) and Big Shoulders Capital.
Founded in 1984 by two Detroit carpenters who left their jobs to build something better together, GLW Detroit has spent more than four decades building a reputation for exceptional architectural millwork, serving high-end retail, hospitality, and commercial environments across the nation. From its Detroit production facility, what began in a garage grew into a company defined by engineering driven craftsmanship, custom tooling and processes developed for each project, and a culture built on enduring relationships and treating people the way they deserve to be treated.
Big Shoulders Capital is a private investment firm that supports founder owned businesses through long term capital and strategic partnership, focused on acquiring and growing founder owned industrial businesses. IIG is a third generation, family run industrial holding company with more than 70 years of operating history rooted in steel stamping and fabrication.
Together, the firms work closely with management teams to preserve each company's legacy while providing operational expertise, shared services, strategic resources, and capital to accelerate long term growth. Their portfolio includes businesses across woodworking, interior design, contract manufacturing, fabrication, and other industrial markets.
The acquisition brings GLW Detroit into the Iroquois Industrial Group and Big Shoulders Capital family, pairing GLW's craftsmanship and engineering capabilities with the operational expertise, strategic resources, and long-term investment support of its new partners. GLW Detroit will continue to operate from its Detroit facility with its existing team, maintaining the quality and customer relationships it has built over more than 40 years while being well positioned for its next phase of growth.
“Choosing the right partner to carry our business forward was every bit as important as completing the transaction itself. Mid States Advisors understood what was most important to us, led a thoughtful and well managed process, and ultimately helped us find the right partner for GLW’s next chapter. I am grateful for their support throughout the process and excited to see the company continue to grow and succeed for years to come under the leadership of Iroquois Industrial Group & Big Shoulders."
- Mike Mancinelli, Founder of GLW.
“At Iroquois Industrial Group, we seek businesses with outstanding people, strong customer relationships, and a reputation built over generations. GLW embodies all of those qualities. We appreciate the professionalism and thoughtful guidance Mid-States Advisors provided throughout the process in helping bring together organizations that share the same long-term vision and values. Together with our partners at Big Shoulders Capital, we look forward to building on the incredible foundation established by Mike and his team, investing for long-term growth, expanding our capabilities, and creating new opportunities for our employees and customers while preserving the culture and craftsmanship that have made GLW an industry leader.”
- Jerry Cooper, Chief Executive Officer of Iroquois Industrial Group.
"Every transaction is about more than achieving a successful close. It’s about finding the right steward for the business, its employees, and its customers. Great Lakes Woodworking has built an exceptional 40+ year reputation for quality craftsmanship, and it was important to identify a partner that valued the legacy and people while providing the resources to support the company's continued growth. We are proud to have represented Great Lakes Woodworking throughout this transaction and believe Iroquois Industrial Group and Big Shoulders are well positioned to build upon that foundation in the years ahead."
- Joseph Alam, Managing Director of Mid-States Advisors.
Mid-States Advisors, Inc. acted as sole advisor to GLW in the transaction. Legal counsel for GLW was provided by Steven Enwright of Taft Stettinius & Hollister
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