High Road Capital Partners has completed its acquisition of Accurate Component Sales, the ninth platform company for its debut fund, High Road Capital Partners Fund I LP. Based in New Brighton, Minnesota, Accurate is a value-added distributor of industrial fasteners, hardware and components. U.S. Bank and Northstar Capital provided financing for the deal.
High Road Capital Partners (www.highroadcap.com) has completed the acquisition of Accurate Component Sales, Inc., the ninth platform company for its debut fund, High Road Capital Partners Fund I, LP. Based in New Brighton, Minnesota, Accurate is a leading value-added distributor of industrial fasteners, hardware and components to manufacturers in the upper Midwest.
“Accurate’s consultative and service-oriented model helps small- and mid-sized manufacturers improve and streamline their production operations,” said Jeffrey M. Goodrich, High Road Partner. “Accurate is well positioned to benefit from U.S. manufacturing growth and the trend toward tighter supply chain integration.”
High Road Principal Ben Schnakenberg added, “With its value added approach, Accurate has significant opportunity to grow its geographic footprint and expand into new markets. We look forward to partnering with Accurate’s management team to accelerate that growth, both organically and through add-on acquisitions.”
Accurate’s co-founder and CEO Jerry Moehnke will continue to lead the company. Mr. Moehnke and Accurate’s management team invested in the transaction alongside High Road.
Mr. Moehnke said, “By identifying solutions and offering procurement, quality control, and just-in-time fulfillment services for customers, Accurate has developed strong and deep relationships across a variety of end markets.” He continued, “High Road understands the advantages of that approach, and we are excited to have their support.”
High Road’s acquisition of Accurate closed on December 3, 2012. Financing for the transaction was provided by U.S. Bank and Northstar Capital. Quetico Partners advised the sellers. Transaction consideration was not disclosed. Jeffrey Goodrich, Partner, and Ben Schnakenberg, Principal, led the transaction for High Road. Also working on the transaction from High Road were Bill Hobbs, Partner, and Paul Langley, Associate.
High Road has completed 21 transactions, including 19 acquisitions – nine platform investments and ten add-on acquisitions – for its debut fund, High Road Capital Partners Fund I, LP.
For further information, please contact Bob Fitzsimmons of High Road Capital Partners at (212) 554-3265.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $150 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
Accurate Component Sales, Inc.
Accurate Component Sales, which was founded in 1986, is a leading value-added distributor of industrial fasteners, hardware, stampings and production components used by original-equipment manufacturers in their manufacturing operations. The company has been ISO certified since 2002. Accurate is headquartered in New Brighton, Minnesota.