GROSSE POINTE, Mich. (AP) — A Republican businessman who says he turned around factories scheduled for closure is taking a "serious look" at running for U.S. Senate in Michigan.

Sandy Pensler of Grosse Pointe said Wednesday he'll form an exploratory committee for the seat held by third-term Democrat Debbie Stabenow, who's seeking re-election in 2018. Pensler owns a buyout firm and Korex Companies, which manufactures dishwasher detergent and other products.

The 60-year-old Pensler criticizes Stabenow's vision and says the country's at a "tipping point." The Harvard law graduate favors the "founding principles of individual freedoms, limited government and broad opportunity based on a market-driven economy."

Republican candidates include former state Supreme Court Justice Bob Young Jr. and businesswoman Lena Epstein. Businessman and Iraq War veteran John James is expected to soon formally announce his candidacy.