Jagemann Stamping Company is a third-generation family-owned manufacturing business founded in 1946 by the grandfather of CEO Tom Jagemann. It is a leading maker of deep drawn, progressive, and fine blanked stampings. In September 2000, Jagemann Stamping moved to a 172,000 square-foot, state of the art manufacturing facility in Manitowoc. It was able to improve efficiency and diversify its product offerings to its growing customer base by expanding and upgrading its presses.
Like many manufacturers, Jagemann experienced challenging times during the recent recession and found the debt associated with the new facility a burden in light of decreased sales. In 2012, Tom Jagemann and company President Ralph Hardt saw an opportunity to refinance the existing real estate and equipment debt and restructure the company's balance sheet through use of the SBA’s Temporary 504 Refinance program.
This crucial step enabled the firm to access significant working capital and further enlarge its facility in 2012 to expand its auto parts division, 'JAG' brass casings product line, and opportunities in their fine blanking division. The additional financing provided by BMO Harris Bank and Wisconsin Business Development Finance Corporation, and the SBA’s guarantee on the CDC’s funds, also laid the foundation for Jagemann Stamping to increase employment by nearly 50% between 2012 and 2013. “
We will hire up to 100 people in the next two years,”' said Ralph Hardt. 'The debt refi turned us around.” Tom Jagemann and Ralph Hardt have been named SBA Wisconsin’s 2014 Small Business Persons of the Year.