WARREN, Mich.–(BUSINESS WIRE)–Eckhart, an Industry 4.0 advanced manufacturing solutions provider and portfolio company of LFM Capital since June 2015, has named Michael (“Mike”) Stob as Chief Financial Officer. Mike most recently served as Corporate Controller at JR Automation Technologies, a leading designer and developer of custom automation equipment for a variety of industries.
Eckhart engineers advanced industrial solutions for the world’s largest manufacturers. The company’s product portfolio includes AUTOCRAFT™ autonomous guided vehicles (AGVs), collaborative robotic systems, traditional robotics, assembly line design & simulation, 3D printing tool development & production, and ergonomic assembly tooling solutions for the world’s largest manufacturers. Eckhart has completed six add-on acquisitions since LFM’s investment in 2015, significantly expanding its capabilities and customer base as well as its geographical footprint.
“We are thrilled to welcome Mike to Eckhart,” said Andy Storm, CEO of Eckhart. “He has assembled a progressively strong accounting and financial track record with several notable companies in Michigan. His experience in operating finance functions within dynamic market environments combined with his track record of successfully leading teams is a perfect fit for Eckhart as we continue our growth.”
Among other responsibilities at JR Automation Technologies, Mike successfully led the financial diligence and integration of four acquisitions. Prior to JR, he served as Controller at Century Technology Group/Data Strategy after beginning his career with positions at Meridian Automotive Systems and Plante Moran. Mike earned a Bachelor of Science degree in Public Accounting from Calvin University in Grand Rapids, Michigan.
“We are excited to have Mike on board at Eckhart,” said Chris Lin, Managing Director of LFM Capital. “His experience managing complex financial operations will be a welcome and complementary addition to Eckhart’s management team. We look forward to leveraging his experience and input to enhance Eckhart’s foundation to support further growth and expansion.”
With over 60 years of experience and based in Warren, Michigan, Eckhart engineers advanced industrial solutions that enhance the quality of life. Eckhart’s proven portfolio of Industry 4.0 technology includes AUTOCRAFT™ autonomous guided vehicles (AGVs), collaborative robotic systems, traditional robotics, assembly line design & simulation, 3D printing tool development & production, and ergonomic assembly tooling solutions for the world’s largest manufacturers. Eckhart serves an established and loyal, blue-chip customer base of leading automotive and industrial original equipment manufacturers that include General Mills, Cargill, Stryker Medical, Boeing, John Deere, Honeywell, and Schneider Electric. For additional information, please visit www.eckhartusa.com.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
Andy Storm, President & CEO