High Street Capital (or “HSC”) is pleased to announce its investment in Adams Magnetic Products LLC (“Adams” or the “Company”) alongside prior owner Scott Lewis. Our investing and operating personnel, in addition to our wide professional network, will be working closely with the Company’s management team to drive organic revenue growth, introduce new markets and products to the Company’s sales mix, and maintain operational excellence through continuous improvement.
Established in 1950 and headquartered in Elmhurst, IL with additional locations in Elizabethtown, KY; Rochester, NY; and Carlsbad, CA, Adams fabricates and distributes magnetic products and assemblies to a wide variety of North American end markets, utilizing best-in-class engineering and quality control offerings to drive superior customer satisfaction and retention. For more information on the Company’s business units and product offerings, please visit www.adamsmagnetic.com.
This represents HSC’s ninth platform investment for Fund V. Derek Gollnitz, an HSC investing Vice President, commented, “Over its eight decades in business, Adams has positioned itself as a proven leader in a strong market with a high-performing management team, outstanding industry reputation, and supportive employee culture. The Company is an excellent fit for what we seek in a platform investment and we look forward to helping maintain the Company’s impressive growth trajectory.”
In connection with the recapitalization, Mr. Lewis has transitioned his role as President to General Manager John Maisch, who brings an impressive background in the magnetics space as well as a deep tenure at Adams. As a significant minority owner going forward, Mr. Lewis will also remain on the Company’s board of directors. Mr. Lewis added, “High Street Capital’s long history of supporting business growth and value creation helped convince us that HSC was an ideal partner to help take Adams to the next level. We enjoyed collaborating with the HSC team to develop a business plan that drives success for all stakeholders.”
Please contact Mr. Gollnitz (312.423.2658 or derek@highstreetcapital.com) with any questions or related opportunities that might be a fit for Adams.
We are also seeking other new platform investment opportunities in the areas of outsourced business services, niche manufacturing, and value-added distribution. Please contact us with businesses generating revenues between $10 million and $100 million where our capital, experience, and ideas could drive further growth.