Michigan Capital Advisors made an investment in Ventech LLC.
Ventech developed the liquid heat generator, a mobile heating technology. The company also offers solutions to a range of markets, including automotive original equipment manufacturer, automotive aftermarket, school bus, mass transit, industrial vehicle and equipment applications, diesel generators, and alternative energy.
The capital, the amount of which was not disclosed, will be used in part to aid the company's growth and pursuit of new opportunities. Jeremy Sanger will remain CEO.
The Jackson, Mich.-based private equity firm targets underserved tier II and tier III suppliers in the automotive and transportation-related industries generating revenues between $20 million and $200 million.