GinSan Industries/ Industrial Vacuum Systems

[DOUGLAS EMPIE]

Bill Pitzer/Auto Care Forum,

Here is the official press release for the aquisition of GinSan Industries/Industrial Vacuum Systems.


Douglas Empie


*** FOR IMMEDIATE RELEASE ***
Sigrid Valk-Feeney in partnership with a Grand Rapids, MI/Nashville, TN based private equity fund has acquired the assets of GinSan Industries and Industrial Vacuum Systems. Sigrid?s credentials include over 25 years in manufacturing and demonstrated accomplishment as an entrepreneur. Jeff Anderson, the former owner of the companies will remain involved with the
business as a technical advisor and customer support resource.

The capital infusion that has been provided will allow the company to aggressively pursue product development initiatives and strengthen its commitment to quality and timely delivery. In addition, the company intends to pursue strategic acquisitions within the industry to expand its
product offerings and create value for its distribution.

For additional information please contact:
Doug Empie
P: (616) 735-5641
E: dempie@ginsan.com

Kerri de Vides
P: (616) 735-5614
E: kvides@ginsan.com

Dave Spoehr
P: (616) 735-5609
E: dspoehr@industrialvac.com

 

[pitzerwm]

My opinion

The people that are running "the new Ginsan" are the same people that were running it months before the magic date where they didn't have to pay their bills any longer. Apparently, Jeff the X owner is still on the payroll.

With personal guarantees they bought some advertising and then decided not to pay that last invoice. IMO any vendor or customer that does business with "the new Ginsan" are foolish.

I'd like to hear their sales pitch, "Yes, we are the same people that screwed you last time, but we are different now, trust us".

 

[RykoPro]

We just ordered some parts from Industrial vac before I heard about the change. It will be interesting to see how long it takes to get the parts. I had no problem getting help with part #'s over the phone. I will drive by there later today and see if there is any employees cars in the lot.

 

[rph9168]

We ordered a part. Had a little trouble placing the order but received the part within a week.

 

[pitzerwm]

I have received payment for their last invoice.