An Elkhart-based manufacturer has been acquired by a private investment company in Michigan. Speedgrip Chuck Inc. is now part of the Stratford-Cambridge Group, which focuses on partnering with industrial companies in the Midwest.
Speedgrip designs and manufactures workholding devices, which are more commonly referred to as "chucks." It was founded nearly 70 years ago and has clients throughout the world.
Charter Capital Partners, which is headquartered in Michigan and has an office in MIshawaka, served as the advisor for the deal. Capital Managing Director Jason Byrd says the firm "worked closely with Speedgrip’s ownership to find a successor that would further the company’s dedication to customer service and help build upon its existing value-add proposition to its market. By supporting the current leadership and their future plans for the company, Stratford-Cambridge Group will help elevate Speedgrip to greater levels of financial and operational performance."
Speedgrip says its management team will continue to focus on "consistent and strong relationships with its global client base."