Surefil Emerges from Chapter 11
GRAND RAPIDS, Mich., Sept. 23 /PRNewswire/ -- Surefil, a contract manufacturer of liquid-fill products for the personal care, home care, oral care, medical industries, and energy drinks, emerged from Chapter 11 protection with Federal Court approval on September 15, 2010. The company was able to attract ABACO Partners, LLC a Michigan based company lead by the former Chief Executive Officer of Universal Forest Products, Bill Currie, to purchase the company. Surefil's top management and all employees will remain with the company.
"We are very pleased to have completed the acquisition of Surefil," said Currie. "The company is emerging from Chapter 11 debt-free and is well positioned for growth." Mr. Currie is currently Chairman of the Board at Universal Forest Products. Other partners in ABACO include Mike Currie, president of Grand Northern Products, Tom Seeber and Brady Bailiff of Blue Wing Partners, and Bernd Durstberger.
Since its founding in 2005, Surefil grew rapidly and has become a major player in the growing contract manufacturing business. The company provides services to many well respected blue chip companies in the personal care and drug market and numerous entrepreneurial companies in the energy shot category.
"The willingness of a West Michigan business to reinvest in Surefil was vital to creating and sustaining jobs in the area and to the company's successful navigation through Chapter 11," said Surefil President Bill Hunt. "The company was able to grow and develop under the Chapter 11 protection by signing new contracts, recruiting strong management talent and attracting dedicated suppliers willing to bet on the company's success." Hunt also credits Huntington Bank for supporting Surefil. "Huntington's commitment, focus and willingness to support Surefil for well over a year were critical to this success story," he added.