Pace moves headquarters to Detroit, establishes center in Fayetteville
by June 25, 2021 4:48 pm 3,235 views
Pace Industries, an aluminum, zinc and magnesium die casting company, recently announced it has relocated its headquarters from Fayetteville to Novi, Mich., a Detroit suburb. According to a news release, as part of the move, a new Shared Services Center has been established in Fayetteville, while the executive, engineering, sales, marketing and other customer-facing teams are based in the new Detroit office.
The new headquarters at 28125 Cabot Drive, Suite 120, in Novi is expected to initially employ 75 full-time employees. The company intends to hire more staff, according to the release.
“Pace Industries has a rich history of supplying the transportation and industrial manufacturing industries and is poised for continued growth,” said CEO Donald Hampton Jr. “Relocating to the Detroit area provides us with more access to our extensive customer and supply base and to the rich talent in the region. Our vision is to become the premier die casting manufacturing and engineering solutions supplier serving customers within multiple sectors worldwide.”
The company is looking to sell its former headquarters building at 481 Shiloh Drive along Interstate 49. CBRE is marketing the 22,000-square-foot office building and 6.3 acres for $3.95 million.
The Northwest Arkansas Business Journal reported this past November that Pace Industries was planning to relocate its corporate headquarters to suburban Detroit, where it maintained a sales and engineering office.
In May, a Pace Industries spokeswoman provided the following statement:
“Pace Industries remains committed to our presence in Fayetteville, Arkansas. We are currently working to rightsize our office space as we establish our new Shared Services Center, evaluating new locations within the greater Fayetteville area. The intent of our process is to be operating in the new office location by the end of the calendar year.”
Attempts were unsuccessful to update the status of the new area office or to determine whether any employees were relocating to Detriot.
The company employed about 70 people at its former corporate office in Fayetteville, according to the 2020 Arkansas Manufacturers Register.
In June 2020, the privately-held company emerged from Chapter 11 bankruptcy protection and appointed Hampton as CEO. Scott Bull, who had been CEO for the past 12 years and an employee for more than 40 years, was expected to remain with the company in an advisory role. Also in June, the company was acquired by TCW Group and Cerberus Capital Management LP.
Hampton previously worked in Michigan for the North American division of Faurecia, a French auto supplier.
“As our company looks at what’s next, our ability to exceed the needs of key customers through various metals and engineered solutions make us a natural partner for leaders in those markets,” Hampton said.
The company, a major supplier to the auto industry, has 17 manufacturing locations across the United States and Mexico. Pace Industries was established in 1970 in Harrison.