Recapitalization with Founder
JRI Industries is one of the largest and most experienced parts washer manufacturers in the United States. With a large portfolio of parts washers and cleaning systems, JRI is the go-to provider for a long list of leaders in the heavy equipment, remanufacturing, mining, railroad, aerospace, automotive and general manufacturing industries. The company has a well-earned reputation for rapid turnaround time, excellent customer service and the ability to develop solutions tailored to customer need.
Founded in 1993, the company operates out manufacturing facilities in Missouri and Connecticut.
JRI Industries and Hadley Capital
Jack Rogers, the founder and president of JRI Industries, wanted to sell a portion of his business but he was not quite ready to retire. He also wanted to execute some estate planning to benefit his family. Jack partnered with Hadley Capital to complete a recapitalization that helped him achieve all of his liquidity, estate planning, transitional employment and retirement goals.
“They were helpful in good times and not-so-good times, which is important from my perspective. They hung in there and didn’t panic.”Jim Jones, CEO, JRI Corporation
Jack was synonymous with JRI—JRI stood for Jack Rogers Inc.—and he ran a good company, but he wanted help to take it to the next level. Hadley Capital provided the resources and support to help achieve Jack’s and the company’s goals.
Transitioning from Jack’s leadership took several years but success came with Jim Jones joining JRI. Jack felt comfortable leaving the company in Jim’s hands, and Jim and the company purchased all of Jack’s remaining ownership.
Jim and Hadley Capital worked together for the next eight years to take a good company and make it great. JRI completed two acquisitions, moved facilities and expanded its distribution network. JRI was a substantially bigger—and better—company when we sold the business. Jim remains a significant shareholder in and president of the company.
Are you an owner or founder of a business looking to complete a sale or partial sale of your business? Contact us to talk about other successful recapitalizations that Hadley Capital has completed with business owners.View website