Highland Holdings II LLC has signed a purchase agreement to acquire Precision Manufacturing Company Inc. in Dayton, Ohio. This agreement is anticipated to close in the third quarter of 2022. The acquisition will further strengthen Highland Holdings LLC as a leader in the wire harness industry.
In the nearly two years since Highland Holdings took over the day-to-day operations of Minnesota-based MNSTAR, sales have increased by 100 percent. Adding a second wire harness manufacturing company will allow Highland Holdings to immediately expand capacity to help the company keep pace with increasing marketplace demand.
“This purchase will allow us to have a greater manufacturing capacity,” said George Klus, CEO and president of Highland Holdings LLC. “When a company like ours has more resources and facilities we are able to better meet the needs of customers, putting us in the next level of growth.”
Based in Dayton, Ohio, Precision Manufacturing Co. Inc. has been a family owned business since 1967, and employs more than 100 staff members. Highland Holdings intends to keep the Ohio factory open and keep the Precision name, strengthening the Highland Holdings footprint further into the geographical market.
Adding Precision Manufacturing to the Highland Holdings LLC family will help Highland expand its customer base, the company says.
“Both companies are strong players and highly respected in the wire harness industry,” said Tammy Wersal, chief operations officer of Highland Holdings LLC. “We are excited to continue our robust performance in the marketplace and adding this family business puts us in a great position to continue that trend.”
Klus said that the wire harness industry is currently strong and growing, and it is important to keep up with demand. This acquisition helps meet those needs.
“Our customers are seeing a greater demand in the products we are making,” said Klus. “As our customers grow, because of increased demand, so does their need for the high quality, custom products that we provide for them.”