Estrakon plus Tecart equals FireBolt Group and more jobs in Wixom.
Estrakon is an LED sign manufacturer. The Ann Arbor-based company made a name for itself making signs for businesses using more energy-efficient LED lights. It has been recognized as a FastTrack growth firm by Ann Arbor SPARK for three years running, and for clocking 20-percent revenue growth or more each year.
Estrakon acquired TecArt last March with the idea of expanding its product line to a number of new items, such as floor mats, counter stools, and neon clocks. The newly merged companies moved to a larger facility in Wixom last September and now have a new name.
“The companies are being merged into one as FireBolt Group,” says Philip Ochtman, president & CEO of FireBolt Group.
The newly created FireBolt Group has hired five people over the last year, expanding its staff to 34 employees. It is also looking to hire two sales people and an engineer right now.
“We expect that number (staff) to go up by more than 10 people this year, primarily by focusing on the production side of things,” Ochtman says.
He adds the newly formed company expects to add more and bigger customers in 2015 thanks to its recent acquisition. He also wouldn’t be surprised if FireBolt Group makes another acquisition before the end of the year.
“We are aiming for it,” Ochtman says. “We feel we have a good story to tell and we have proven we can do it.”
Source: Philip Ochtman, president & CEO of FireBolt Group
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.