Highlander Partners Acquires Controlling Interest In Hi-Tech Industries

Highlander Partners Acquires Controlling Interest In Hi-Tech Industries

The business will continue to operate autonomously and all operations will remain unchanged and continue to be conducted from Hi-Tech's two facilities in Farmington and Southfield, Michigan, where all manufacturing and distribution takes place. The business will continue to be led by Hi-Tech's current CEO, Herschel Wright.

Highlander Partners L.P. has announced its acquisition of Hi-Tech Industries Inc. Hi-Tech, based in Farmington, Michigan, is a provider of a full line of professional car care product accessories and specialty aerosols for the automotive appearance industry. Hi-Tech will operate through a holding company owned by Highlander that has various investments in automotive appearance and maintenance products.

The business will continue to operate autonomously and all operations will remain unchanged and continue to be conducted from Hi-Tech’s two facilities in Farmington and Southfield, Michigan, where all manufacturing and distribution takes place. The business will continue to be led by Hi-Tech’s current CEO, Herschel Wright.

Wright commented, “I am excited to partner with Highlander to accelerate our success as a leader in the professional automotive appearance industry and to add to our resources to allow us to grow our business in other markets.”

Jeff Hull, president and managing partner of Highlander, added, “The addition of Hi-Tech to our growing family of brands further reinforces our strategy to build a leading business in professional automotive products, including car wash, auto dealership, auto auction and professional detailer markets. Closing our third acquisition in this space within the past six months further validates our intent to utilize acquisitions to complement our organic growth efforts. We continue to evaluate numerous other potential transactions and expect to close additional acquisitions in the near future. Hi-Tech’s deep product lineup is very complementary to building a comprehensive portfolio in car care products. Hi-Tech provides additional distribution reach and adds to our ability to service customers across our complete product offering nationally. We are excited to partner with Herschel and Nathan to extend and grow Hi-Tech.”

You May Also Like

DENSO Announces Year-End Financial Results

Consolidated revenue totaled 7,144.7 billion yen (US$47.2 billion), a 11.6 percent increase from the previous year.

DENSO Announces Year-End Financial Results

Mobility supplier DENSO announced global financial results for its 2024 fiscal year, ending March 31, 2024.

Highlights of the financial results are as follows, according to DENSO:

Consolidated revenue totaled 7,144.7 billion yen (US$47.2 billion), a 11.6 percent increase from the previous year.

Consolidated operating profit totaled 380.6 billion yen (US$2.5billion), a 10.7 percent decrease from the previous year.

Anchor Adds More BMW, MINI Coverage

The new products cover more than 1,994,760 applications and model years 2016-2024.

PHINIA Reports Q1 2024 Results

U.S. GAAP net sales were $863 million, an increase of 3.4% compared with Q1 2023, according to PHINIA.

Bendix Making Changes at Indiana Manufacturing Operation

Bendix said it is transforming its distribution center into a state-of-the-art facility and consolidating dampers manufacturing into a single, larger space.

Doleco Announces Facility Expansion in Charlotte

The 33,000-square-foot facility is strategically positioned near major transportation hubs, providing optimal access to raw materials and speeding shipment of finished goods to all U.S. markets.

Other Posts

GPC Acquires Largest NAPA Independent Store Owner in the US

Genuine Parts Company said the acquisition advances its strategic initiative to own more stores in priority markets.

GPC Acquires Largest NAPA Independent Store Owner in the US
HDA’s Colorado Brake & Supply Announces Acquisition

The HDA Truck Pride member has acquired Pueblo Brake & Clutch, Inc.

HDA's Colorado Brake & Supply Announces Acquisition
Allison Transmission Announces Q1 2024 Results

The company reported record net sales of $789 million.

Allison Transmission Announces Q1 2024 Results
Standard Motor Products Introduces 268 New Numbers

The release provides new coverage in 75 product categories and 80 part numbers for 2023 and 2024 model-year vehicles, SMP said.