GRAND RAPIDS, Mich., July 28, 2014 —BlueWater Partners is pleased to announce that it has completed an investment in Modar, Inc., a leading manufacturer of furniture, fixtures, and displays for the hospitality and retail industries. The investment will provide Modar with a capital partner to support the company’s current customers and future growth. In addition, BlueWater Partners will add value through its financial and operational experience and skills.
“We’re excited to build on Modar’s strengths – its people and production capabilities – and seize the opportunities the retail environments and hospitality furniture industries present now and in the future. Our goal is to transform Modar into the most customer focused and responsive company in the industries it serves,” said Ron Miller, Interim CEO of Modar.
About Modar
Modar is a single source solution for functional hospitality and retail environments. The company manufactures standard collections and designer furniture for many of the most recognizable hotel chains, and store fixtures and displays for several of the largest national retailers. Headquartered in Benton Harbor, MI, Modar’s operations include a 130,000 square foot, state-of-the-art manufacturing facility and 100,000 square foot warehouse in Benton Harbor and sales offices in Connecticut and North Carolina.
For more information, visit www.modarinc.com.
About BlueWater Partners
BlueWater Partners is a middle market investment banking, consulting, and merchant banking firm. The firm invests in manufacturing, distribution, and service companies with $10 to $100 million of revenue. Short-term, BlueWater Partners uses its hands-on operating experience to help management address weaknesses and threats and improve performance. Long-term, the firm builds value by working closely with management and providing strategic advice and assistance with continuous improvement.
For more information, visit www.bluewaterpartners.com.