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

CHICAGO, ILLINOIS, APRIL 2, 2013 — May River Capital, LLC (“May River”), a Chicago-based private equity investment firm, announced that it is actively seeking potential add-on acquisitions for Hi-Tech Manufacturing, LLC (www.hi-tech-mfg.com). Hi-Tech Manufacturing, LLC (“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. “We are focused on companies that help diversify our end-markets and core geographies served, as well as companies that share a similar commitment to operational excellence, high quality standards and superior customer service,” added Tim Weaver, CEO of Hi-Tech.

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, LLC

May River is an independent private equity investment firm that seeks to invest its own capital, as well as partner with like-minded equity co-investors, in high quality businesses with excellent management teams and the potential for significant growth and value enhancement. May River was founded in January 2012 by three partners with over 40 years of principal investing experience. May River raises equity capital on a deal-by-deal basis from family offices, mezzanine funds, co-invest funds, industry executives, high net worth individuals, and other private equity firms. For more information on May River, please visit www.mayrivercapital.com


FOR IMMEDIATE RELEASE

CONTACT:

Chip Grace
Partner
312.750.1772