May River Capital Acquires Hi-Tech Manufacturing
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May River Capital Acquires Hi-Tech Manufacturing

May River Capital has announced the acquisition of Hi-Tech Manufacturing in partnership with management, the Pohlad family, Yukon Capital Partners, and other co-investors. Cleary Gull served as financial advisor to Hi-Tech and the selling shareholders in this transaction.

Hi-Tech is a manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies for the energy, medical equipment, scientific laboratory and industrial end markets. The company is based in Schiller Park, IL (www.hi-tech-mfg.com).

“We are excited to partner with May River, the Pohlad family and Yukon. Our new partners provide significant capital backing, strategic support and experience in the manufacturing sector, as well as within our core end-markets, that will help our company continue to grow and deliver world class quality, service and value to our customers,” said Tim Weaver, CEO of Hi-Tech.

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. May River was founded in January 2012 and is based in Chicago, IL (www.mayrivercapital.com).

“Hi-Tech’s talented management team, strong customer relationships, demonstrated track record of growth, and commitment to operational excellence were central to our interest in the company. Tim and his team relish competition and excel in it,” said Dan Barlow, Partner of May River.

Fifth Third Bank provided senior debt financing, while Yukon Capital Partners provided subordinated debt financing beyond its equity co-investment.

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