Manufacturer acquires upholstery supplier
A local manufacturer has acquired a Tennessee-based supplier of upholstery for boats.
Byron Center-based G&T Industries said yesterday it acquired Woodbury, Tennessee-based Crane Interiors, effective Jan. 1.
Terms of the deal were not disclosed.
“The acquisition allows G&T to move up the value chain within the marine industry, and the values fit between the two organizations is solid, which should support a smooth business transition,” said Roland Grit, president and CEO, G&T Industries.
Grit said Crane is a long-time customer of G&T.
“The people in both businesses know each other very well,” Grit said.
G&T Industries is a manufacturing and distribution company founded in 1954 that serves the furniture, medical, packaging, military and marine marketplaces.
It provides foam and rubber fabrication, contract assembly, sewing and upholstery, global supply chain management and order fulfillment.
The company also operates facilities in Jasper, Indiana, Reading, Pennsylvania, Woodbury, Tennessee and Ningbo, China.
The company is 100-percent employee owned through an employee stock ownership plan, or ESOP.
Crane Interiors has operated for 40 years as a marine sewing and upholstery business that supplies boat builders. The company moved from Nashville to Woodbury, Tennessee in 1989.
“Crane employees are excited to join G&T Industries and become part of the ESOP experience,” said Chris Anderson, general manager, Crane Interiors.
Crane Interiors will continue to operate out of its current location.
All 190 of its existing employees will be retained.