High Road Capital Partners' Portfolio Company John Henry Foster Minnesota Acquires Distribution Segment Of Motion Tech Automation
NEW YORK, Jan. 11, 2021 /PRNewswire/ -- High Road Capital Partners (www.highroadcap.com) announced today that its portfolio company John Henry Foster Minnesota (www.jhfoster.com) has completed the acquisition of the assets of the distribution segment of Motion Tech Automation (www.motiontech.com), marking the company's first acquisition under High Road Capital's ownership.
The distribution segment of Motion Tech Automation ("MTD") is a leading value-added distributor of engineered automation, motion control and sensor solutions for a diverse array of end markets.
John Henry Foster Minnesota ("JHFoster") was acquired by High Road Capital Partners Fund II in May 2019. JHFoster is a leading value-added distributor of motion control parts and accessories, compressed air systems, collaborative robots, industrial robotics, and electrical automation products to manufacturers in the upper Midwest. The company is headquartered in Eagan, Minnesota.
"MTD's strong relationships with premier motion control and automation OEMs broaden JHFoster's product offering and position JHFoster for continued growth," said Ben Schnakenberg, a Partner at High Road Capital Partners. "In addition, MTD brings an experienced and highly knowledgeable team, and we look forward to supporting them to continue offering our customers industry-leading products and services."
"We are excited to add MTD to the JHFoster family. MTD's product breadth and depth will complement the well-established lines we already provide," said Nick Martino, CEO of JHFoster. "This acquisition strengthens JHFoster's position as a supplier of choice for our customers' automation and motion control needs."
MTD will relocate to John Henry Foster Minnesota's facility in Eagan, Minnesota, in January 2021. Motion Tech Automation will continue to operate and focus on product development and manufacturing services for its customers and parent company.
JHFoster's acquisition of MTD closed on December 14, 2020. Ben Schnakenberg, Partner, led the transaction for High Road and was assisted by Eojin Lee, Principal; Tom Cassidy, Senior Associate; and Austin Arnold, Associate. Jones Day provided legal counsel to High Road. Hennepin Partners advised the sellers on the transaction. Transaction consideration was not disclosed.
High Road has completed 61 transactions – 20 platform investments, 33 add-on acquisitions, and eight exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on the smaller middle market. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road targets 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 companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
John Henry Foster Minnesota
Founded in 1938, John Henry Foster Minnesota (JHFoster) is a leading value-added distributor of motion control parts and accessories, compressed air systems, collaborative robots, industrial robotics, and electrical automation products. JHFoster customizes products and solutions to automate manufacturing applications for companies in Minnesota, Wisconsin, North Dakota, South Dakota and Iowa. The company is headquartered in Eagan, Minnesota, with an advanced robotics design and training facility and UL 508A-certified control panel shop also in Eagan, facilities in Fargo, North Dakota and Hiawatha, Iowa, and a fully-equipped team of mobile service technicians throughout the five-state area. www.jhfoster.com
SOURCE High Road Capital Partners
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article