Submitted Photo Brad Renwick (left) and Jeremy Blum are the new owners of Dahlstrom Roll Form in Falconer.

Two company leaders of Dahlstrom Roll Form are stepping up to buy the business with the help of the Chautauqua County Industrial Development Agency, amidst reports an outside buyer was interested in purchasing it and possibly relocating it down south.

Robert White is the owner of Lakeside Capital Corporation, doing business as Dahlstrom Roll Form in Falconer. He has decided to retire and has put the company up for sale.

During Tuesday’s county IDA meeting, it was announced that Jeremy Blum, current chief executive officer of the company, and Brad Renwick, the current chief operations officer, are seeking an eight-year, $900,000 loan from the IDA to assist with the purchase. Cattaraugus County Bank is providing a $2.4 million loan as well.

Carol Rasmussen with the county IDA discussed the sale.

“This was on the open market. There have been offers from private equity firms. … This leaves the company very vulnerable to be uprooted and to leave Chautauqua County and/or New York state,” she said. “There was one serious offer from a company in Germany that has a history of purchasing this type of industry and moving it to Kentucky.”

Dahlstrom Roll Form has a long and storied history in the greater Jamestown area. It was founded in 1904 by Charles Dahlstrom, a Swedish immigrant, as the Dahlstrom Metallic Door Company and initially made doors for large-scale buildings across the United States, including the construction of the Empire State Building. It eventually expanded its metallic roll form operation to meet other needs.

In 2019, Dahlstrom Roll Form purchased DC Roll Form at 221 Lister Ave., Falconer, with financial assistance from the CCIDA through a mortgage recording tax exemption. In 2022, the company fully moved into the new location.

Rasmussen said this will be a stock purchase, with the total project a little more than $9 million.

“The purchase price of the building is $8.4 million, so there’s a little bit of working capital in there,” she said.

Rasmussen said Blum and Renwick are looking to purchase the assets right now and eventually will purchase the building.

“In 2031 is when they’re actually planning on purchasing it (building),” she said.

According to IDA officials, by keeping the company locally owned, the move will help to retain 43 jobs and create two additional positions.

The county IDA Board of Directors unanimously approved the loan.

Mark Geise, deputy county executive for economic development and chief executive officer of the county IDA, said he is excited to see Dahlstrom Roll Form being purchased locally.

“It is essential that the CCIDA supports local manufacturers, such as Dahlstrom Roll Form, especially when that assistance results in local ownership,” he said. “Robert White has been terrific in ensuring the company remains locally-owned and competitive on the global stage, and I have every confidence that Jeremy and Brad, as well as their tremendous workforce, will do the same.”

The new owners issued a statement thanking the IDA for assistance.

“We look forward to our continued involvement at Dahlstrom Roll Form as the new owners and will work to continue the strong manufacturing legacy the company has secured in the greater Jamestown area and Chautauqua County,” Blum and Renwick said.

County Executive PJ Wendel also expressed his support.

“Dahlstrom Roll Form has a storied manufacturing legacy in Chautauqua County and it’s great to see that continue with the new ownership, who will help provide stable, good-paying jobs to our residents,” he said. “Congratulations to Mr. Blum and Mr. Renwick in their roles as new owners, and thank you to Mr. White for helping to build on and preserve the Dahlstrom legacy with his decision to move to a newer, more modern facility a short time ago. This support by the CCIDA illustrates the important role the agency plays in our local economy.”