High Street Capital has acquired Banner Service Corporation, a processor and distributor of metal bar products. The Banner acquisition marks the second platform investment since the April 2012 closing of High Street’s fourth fund.
Banner is a processor and distributor of carbon steel, stainless steel, brass, aluminum, titanium, alloy, chrome plated and treated bar products. The company has a diverse customer base in a variety of end markets with a growing presence in the medical industry. The company operates three facilities with more than 170,000 sq. ft. and is based in Carol Stream, IL (www.bargrind.com).
“When it came to the selection of a new investment partner, we had a lot of good choices to pick from,” said Mark Redding, President and CEO of Banner. “However after considerable evaluation, management felt that High Street was the clear, best choice to support our strategy, growth objectives and culture. We are excited to move forward with them.”
High Street Capital acquires, recapitalizes and provides growth capital to outsourced business services, niche manufacturing and value-added distribution and logistics companies in the central US with revenues of $10 million to $100 million. The firm is based in Chicago, IL (www.HighStreetCapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-11-12