Boyden, Iowa -– A Boyden manufacturing firm has acquired the product line of an Indiana company, and may be adding workers to their workforce.
Based in Boyden, Demco manufactures RV aftermarket products, agricultural products and more. Demco officials have announced they are acquiring the complete product line of SMI Mfg, a leading supplemental brake system supplier.
Bob Koerselman, president of Demco says that the purchase of SMI, based in Newburgh, IN, further increases and broadens Demco’s position in the RV aftermarket products arena. He says that the combination of the SMI brand with their Demco-branded towing products will provide their customers with a more significant single-source option. He says the acquisition will bolster Demco’s position in the market, increase their market share in this space as well as build on multiple synergies for Demco.
Peter Schuck, president of SMI says that the sale of the SMI product line began as a simple conversation over the course of the past year. He says SMI has always felt that if or when they were ever ready to talk with a potential buyer, they wanted to see similar values — all the way from their view on customers, and their staff as family, to a sincere faith component.
With a projected closing date of June 30, 2017, Demco and SMI have agreed to maintain production and current SMI staff in Indiana until facilities in Boyden take all business operations over by December 1, 2017. They say that this will ensure minimal disruptions for all customers and suppliers during this time. Demco officials believe that the acquisition will add 15 employees to their current workforce.
