GRAND HAVEN — Grand Transformers Inc., a leading designer and manufacturer of custom engineered magnetics, announced Stephen A. Paul has been named its new CEO.
The selection of Paul comes after a national search. Grand Transformers, along with its Warner Power division, is a portfolio company of Blackford Capital, a Grand Rapids-based private equity firm.
“After a comprehensive national search for a new CEO at Grand Transformers, Steve rose to the top of the list,” said Steve Parker, board chair of GTI, who had been interim CEO. “We were impressed with the breadth of his experience and excited about how his skills in business planning, sales and marketing, operations, and organizational management skills will have a positive impact on the future of Grand Transformers.”
Prior to joining Grand Transformers, Steve Paul was the COO at Jefferson Electric in Milwaukee, Wis. He was named to that post in 2008 after joining Jefferson Electric as head of sales operations.
Paul has an extensive background in engineered magnetics. During his career, he has held executive level positions in engineering, or sales, at Generac Power Systems, Hammond Power Solutions, and Siemens Corp. Paul graduated from the University of Michigan with a Bachelor of Science degree in mechanical engineering before earning his MBA from Edgewood College in Madison, Wis.
Said Paul: “I look forward to being a be part of an industry-leading organization with a commitment to growth through its customers’ success. GTI has a unique combination of a strong customer base, industry leading products, dedication to innovation, and momentum in the market. This provides an excellent platform to accelerate what is working and improve on areas of opportunity for even greater growth and profitability in the future.”
Added Martin Stein, founder and managing partner at Blackford Capital: “Steve Paul brings with him a tremendous amount of leadership experience that will directly benefit the organization. Paul will be focused on strengthening our customer experience and developing additional markets. Paul’s leadership, experience, and commitment to customer service are strongly aligned with GTI and we look forward to continuing the successful growth story together.”
Founded in 1968, Grand Transformers was recognized as one of America’s fastest growing private companies by Inc. magazine in 2017. It offers a wide range of custom magnetic products serving the motor drive, elevator, power quality, energy, and oil and gas industries. More at www.gtipower.com.