Multicraft Ventures is the entrepreneurial division of Multicraft International which has a rich history as a strategic supplier to customers in the automotive, outdoor power equipment, HVAC, industrial, and consumer markets.
Milestones in Multicraft International History:
In 1978, Ford Motor Company established operations in Mississippi to provide high volume electrical and metal fabricated components to U.S. automobile plants.
1986TRANSITION TO PUBLIC
Magna International of Canada made a strategic acquisition of the fast growing Multicraft group of companies in 1986 with revenues of $70 million.
1991Reversion to Private
A management buyout resulted from a reorganization of the $90 million business, brought on by the North American recession and Magna’s resulting strategic divestiture.
Under local management and ownership, Multicraft grew to eight divisions in Mississippi and Alabama with 2,500 employees and gross revenues exceeding $150 million. 2001 saw a significant strategic acquisition of six divisions by a key global supplier seeking vertical integration of the company’s engineering and product specialization.
Continuing management of five operating divisional units in Mississippi—with global reach in diversified markets for both customer designed and internally developed products—is providing strong organic growth opportunities for world class capabilities and processes.
Realizing the need in the market for a strategic partner to start-ups and entrepreneurs that could provide product development and engineering expertise supported by access to capital, Multicraft International formed its Ventures division.