phoneicon(574) 234-4116       searchSEARCH

phoneicon(574) 234-4116       searchSEARCH

We give you


ST. LOUIS, MO – (August 1, 2017) – HBM Holdings (“HBM”) announced today that it has acquired Schafer Industries (“Schafer”) of South Bend, Indiana.  Schafer is a leading producer of high-precision, custom-engineered gears and machined parts for a wide range of applications, as well as transaxles, brake assemblies and other components for off-road vehicles. The acquisition of Schafer is a continuation of HBM’s long-term strategy to acquire and build market leading manufacturers of industrial products.

“We are thrilled to bring Schafer into our portfolio,” said Mike DeCola, HBM’s CEO.  “Schafer’s leadership team has done a remarkable job of growing the company by helping customers solve complex problems. Building on this success, we look forward to further expansion of the business.  Schafer is a perfect fit for our model, as the current ownership group is ready to transition the business to reach a new level of capability and success,” continued DeCola.

Founded in 1934, Schafer is a privately held company operating through two vertically integrated divisions: Schafer Gear Works and Schafer Driveline. Schafer Gear Works manufactures gears that power products across a diverse set of markets and custom applications, including aerospace, industrial warehouse equipment, and general transportation applications found in the automotive, agricultural and construction sectors. Schafer Driveline is a leading manufacturer of custom engineered and assembled transaxles and brake components, bringing integrated power delivery solutions to the recreational and off-highway vehicle industries. In total, Schafer operates four facilities in the Midwestern United States, with over 300,000 square feet of manufacturing space.

Bipin Doshi, CEO and President of Schafer, commented, “As we engaged in the process of selling Schafer, our priorities were our employees and our customers. Throughout the process, HBM Holdings stood out not just in value for us as shareholders, but in terms of cultural fit. They understand our markets, technology and resource constraints and have a talent development strategy that will help our people continue to grow and succeed. Their focus on growth will benefit both our employees and our customers.”

Mr. Doshi, along with his wife Linda, and Stan Blenke, Executive VP and CFO, acquired the business from South Bend Lathe approximately 30 years ago. As a result of their leadership, the company has experienced tremendous expansion organically and through acquisitions. Both Mr. Doshi and Mr. Blenke will stay involved during a transition period.

Eric Van Rens will become the company’s CEO effective immediately. Since 2004, Eric has served as the Vice President, Sales & Marketing for Mississippi Lime, an HBM portfolio company. He also held prior roles in operations, marketing and general management with Astaris and FMC Corporation. Eric holds a BS in Mechanical Engineering from University of Wisconsin and a Masters of Business Administration from Rutgers University

Terms of the transaction were not disclosed.


HBM Holdings is an investment and management company that acquires, supports, and operates middle-market businesses in industrial products and services. The firm’s strategy is to grow a diversified portfolio using a long-term buy and build approach. HBM provides our portfolio companies with professional management expertise, financial resources, and high potential human capital to accelerate their growth. HBM invests in high-performing companies in the specialty-manufacturing sector, specifically in industrial equipment and components, energy equipment, transportation equipment (excluding light automotive) and chemical and minerals. HBM’s portfolio of companies includes Mississippi Lime Company, Delavau LLC, Schafer Industries, Tru-Flex LLC, and Breen Energy Solutions LLC. For additional information, please visit


Founded in 1934, Schafer Industries is a leading producer of high-precision, custom-engineered gears and machined parts as well as assembled axles, transaxles, transmissions, brake assemblies and other components for a wide variety of industries. An ISO 9001:2015 company, Schafer is headquartered together with an operations facility in South Bend, Ind., and has manufacturing facilities in Illinois and Ohio. For more information about Schafer and its custom engineering and manufacturing capabilities for precision-cut gears and machined components, visit


Ryan Supple
HBM Holdings
Director, Deal Origination
This email address is being protected from spambots. You need JavaScript enabled to view it.
T 1 314-376-2540

Joanne Verkuilen
Carolon Capital Ltd
Global Head of Client Service
This email address is being protected from spambots. You need JavaScript enabled to view it.
T 1 980-221-8870


People make the difference ... and we have some of the best in the industry.

  • schaferindustries

    Schafer Industries began in 1934 manufacturing high-quality gears as Schafer Gear Works. Today Schafer Industries is a leading producer of high-precision, custom-engineered gears and machined parts as well as axles, transaxles, transmissions, brake assemblies and other components for recreational and off-road applications. This makes us one of the few providers of integrated solutions in the industry.

  • schaferdriveline

    Schafer Driveline is one of the largest manufacturers of small axles for golf cars and light utility vehicles in the world, delivering reliable and hassle-free performance you can trust. Our staff has been designing and building axles for more than 40 years. And we're producing them right here in America.In fact, Schafer Driveline is the only major golf car axle manufacturer in the U.S.A.

  • schafergearworks

    Whatever gear or shaft challenge you are facing, we are ready to solve it. For more than 70 years our teams have taken ideas from rough concept through fabrication of prototypes. If the solution you need isn’t already in our portfolio, we’ll design a new one. We can reverse engineer your sample to determine its specifications then reproduce it for you.


Latest News

HBM Appoints Andy Fincher as President and Chief Operating Officer
10 September 2018

We are pleased to announce that the HBM Board of Directors has approved the appointment of Anderson (“Andy”) Fincher as HBM’s President and Chief Operating Officer.

Andy will assume immediate oversight of HBM’s four portfolio companies; HBM CEO Mike DeCola continues to serve on the Board and will remain responsible for the company’s overall strategy, people and transaction activity during a transition period.

“In my nearly two decades leading Mississippi Lime I have witnessed remarkable transformation and consistent achievement of world-class performance. We advanced this legacy with the creation of HBM Holdings in 2011, and today the values that defined our success for well over a century now span four portfolio companies,” DeCola said. “Andy’s appointment is the culmination of a thoughtful and orderly process by the HBM Board to position the organization for future growth. I am delighted to welcome Andy and work alongside him, and I am confident he is the right person to lead HBM into the next decade and beyond.”

Read more
Schafer Industries, A Portfolio Company Of HBM Holdings, Announces HBM CEO Mike Decola Is Chairing The 100th Anniversary PGA Championship
12 June 2018

SOUTH BEND, IND. (June 12, 2018) — Schafer Industries, headquartered in South Bend, Ind., proudly announces that the Chief Executive Officer (CEO) of HBM Holdings Mike DeCola is serving as general chairman of the 100th Anniversary PGA Championship, Aug. 9-12, at Bellerive Country Club, St. Louis, MO. HBM Holdings is a privately held investment and management company headquartered in St. Louis which includes Schafer in its diverse portfolio of companies.

Read more
Schafer Driveline Earns Yamaha’s Rigorous REVS Supplier Certification
2 April 2018

FREDERICKTOWN, OH (April 2, 2018) — Schafer Driveline, LLC in Fredericktown, OH., recently was awarded the Yamaha REVS Supplier Certification. It is one of five of Yamaha Golf Car Company’s 130 suppliers to have achieved this recognition. To earn the award, Schafer Driveline had to complete a rigorous two-year audit to prove its excellence in lean manufacturing, continuous improvement, quality management systems and advanced product quality planning.

Read more

How can we help your business? Contact Us