12/12/2012 1:18:00 PM
HEADLINES
Accurate Component Sales Acquired By Equity Firm
Private equity firm High Road Capital Partners acquired fastener distributor Accurate Component Sales in partnership with Accurate’s management team. Terms of the deal, which closed on December 3, were not disclosed.
Accurate co-founder and CEO Jerry Moehnke, who invested in the transaction along with other members of company management, will continue in his position.
“Accurate’s consultative and service-oriented model helps small- and mid-sized manufacturers improve and streamline their production operations,” said High Road partner Jeffrey Goodrich. “Accurate is well positioned to benefit from U.S. manufacturing growth and the trend toward tighter supply chain integration.”
High Road suggested there could be add-on acquisitions to augment Accurate’s organic growth.
Founded in 1986, New Brighton, MN-based Accurate distributes industrial fasteners, hardware and components to OEMs in the upper Midwest. The company’s website lists 31 employees, 450 customers, 25 major product lines and 22,000 line items. Accurate operates a 30,000 sq ft warehouse located at 444 Second St. NW, New Brighton, MN 55112. Tel: 651 393-3511 Fax 651 639-1288 Web: accuratecomp.com
High Road has completed 21 transactions, including 19 acquisitions – nine platform investments and ten add-on acquisitions – for its debut fund, High Road Capital Partners Fund I, LP.
Founded in 2007, High Road manages over $150 million of committed capital, with a focus on niche companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Web: www.highroadcap.com ©2012 GlobalFastenerNews.com
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