Vekst Capital announced it had tapped West Michigan native Steve Tolger to run its private investment firm that invests long-term in family-owned West Michigan companies. Grand Rapids businessman Tim Engen is the founder of Vekst and Tolger will drive the vision and investments as company president. Steve Smith will serve as Vekst’s chief financial officer.
With operations launching in July 2023, Vekst brings a unique investment approach to West Michigan, focusing on being a committed capital partner with Midwest family-owned values for acquisition, growth, and business opportunities. And through majority or minority equity investments, Vekst invests in private, profitable companies that are established in their industry, ready to scale, and are West Michigan-focused — from west of Lansing to the Lakeshore, spanning from the Michigan/Indiana border north toward Mackinaw City.
Born and raised in West Michigan, Tolger worked at Ernst & Young in Chicago and RA Capital Advisors, a boutique investment bank in San Diego, before returning to West Michigan. And most recently, he led the M&A and growth for Alliance Physical Therapy Partners, a private equity-backed business in Grand Rapids. Throughout his career, Tolger has executed a variety of business dealings, ranging from $450,000 to $600 million, and successfully closing over $1 billion in transactional value.
Engen’s career began in technology, and he has since diversified into other industries. Along with Vekst Capital, Engen owns various businesses throughout West Michigan, including CarbonSix, Carbon Builders, and Vision Real Estate Investment, and is part-owner of People Driven Technology alongside his dad, James Engen, and brother, Ryan Engen.
KEY QUOTES:
“We are investing in local, West Michigan companies that want to grow and continue their legacy in this region, while also staying committed to our core values– which is forming meaningful relationships that create a lasting impact with employees, customers, suppliers, and the community. We’re here to support and grow businesses over a long period of time – which is what makes Vekst unique. It all comes back to those Midwest values of forming relationships, and being respectful, transparent and honest in business.”
— Steve Tolger
“At Vekst, our focus is to serve and help our businesses thrive with not only an existing private investor portfolio, but also through new investors. Because of the way we’re structured, we have more flexibility than traditional private equity. We provide our companies with the support that will complement or enhance their existing resources and follow their vision.”
— Tim Engen
