MW Industries, a manufacturer of specialty springs and fasteners and a portfolio company of Genstar Capital, announced today that it has completed the acquisition of substantially all of the assets of Hi-Tech Machine. “We continue to identify growth oriented companies and to successfully integrate them into our growing platform,” said Bill Marcum, CEO of MW Industries. “We have been working to build the company into a leading national competitor and each strategic acquisition has added enhanced product offerings and broadened MW’s geographic reach.”
Hi-Tech is a precision machining business that serves the medical, aerospace, military/defense and hand power tool markets. The company is based in of Concord, NC (no website found).
MW Industries is a provider of highly engineered springs, specialty fasteners and other precision components to more than 23,000 customers. Its 40,000 plus products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in a number of industries, including medical, heavy truck, electronics, agriculture and construction, military and aerospace, energy and automotive. The company is based in Logansport, IN (www.mw-ind.com).
It is planned that Hi-Tech’s equipment and customers will be integrated into MW’s Springmasters Division, based in Greer, SC, over the next few months. Brad Gryder, Owner and President of Hi-Tech, will be joining the Springmasters Organization to work on integration of the existing business base and drive growth opportunities.
Genstar Capital invests in middle-market companies and builds value in those businesses by utilizing the expertise of its operating partners. Genstar has more than $3 billion of committed capital under management and targets investments within the life sciences, healthcare services, financial & business services, software & software services and industrial technology industries. The firm was founded in 1988 and is based in San Francisco, CA (www.gencap.com).