MAY RIVER CAPITAL PORTFOLIO COMPANY HI-TECH MANUFACTURING SEEKS ADD-ON ACQUISITIONS

April 2, 2013

May River Capital announced that it is actively seeking potential add-on acquisitions for Hi-Tech Manufacturing, LLC (“Hi-Tech”) (www.hi-tech-mfg.com). Hi-Tech is a world- class manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies. Based in suburban Chicago, Illinois, the Company serves large, market leading customers in the energy, medical equipment, scientific laboratory and industrial end markets. The Company is regarded as the preferred contract manufacturer for its customers’ most critical, tight tolerance and difficult-to-manufacture components, typically utilizing exotic materials and/or specialty metals. May River Capital completed the acquisition in July 2012 in partnership with management, the Pohlad family, Yukon Capital Partners, L.P., and other co-investors. “Our leadership team at Hi-Tech has done a tremendous job of growing the company organically with new and existing customers over the past three years. Hi-Tech is now well positioned to execute on the targeted acquisition portion of our strategic plan,” commented Chip Grace of May River. 

ACQUISITION CRITERIA:

  • General profile: Manufacturers of close-tolerance, precision machined components and assemblies

  • End markets: Medical and life sciences; aerospace and defense; power generation; high-tech industrial; and oil & gas and alternative energy

  • Geography: North American-based companies

  • EBITDA: $3 million and above

  • Gross Margin: in excess of 25%

  • Revenue: $15 million and above

INTERMEDIARY FEES:

May River and/or Hi-Tech will pay standard intermediary fees for introductions that result in completed transactions.


ABOUT MAY RIVER CAPITAL

May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market industrial growth companies. May River invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services, and value-added industrial distribution businesses. For more information, please visit www.mayrivercapital.com


CONTACT:

Chip Grace
312.750.1771
cgrace@mayrivercapital.com