BLOOMING PRAIRIE, Minn., Jan. 21, 2020 (GLOBE NEWSWIRE) -- For more than three decades, Minimizer’s investment in the heavy-duty trucking industry has produced the toughest parts and accessories to answer the demanding needs of fleets and truck drivers. So it’s a logical fit for Minimizer to seek out a company with an equally strong commitment to brand and quality in the trucking industry.
Effective January 2020, Minimizer and Premier Manufacturing are combining to fast-track their growth strategy to expand product lines and support the rapid expansion of the two companies. Minimizer is committed to focusing on additional investment in new products, people, equipment, and the development of new capabilities.
Premier products will continue to be sold under the well-known Premier brand and will remain in its Tualatin, Ore., location. The company’s sales, operations, and management will work closely with Minimizer to develop an overall strategy for company growth and expansion for both Premier and the Minimizer brand of products.
“We are very excited about our new relationship with Minimizer and Capital Partners,” Premier Manufacturing CEO Paul Grycko said. “Over the last six months, we conducted an exhaustive search for the right partner, one who shared our cultural beliefs and plans for growth over the next five years. Minimizer, backed by Capital Partners, is an ideal fit to help take Premier to the next level."
Minimizer CEO and President, Christopher Thorpe (“CT”) said the company has been looking for strong-branded companies with the same “Tested and Tortured” philosophy for their product portfolio as Minimizer.
“Premier’s strong branded focus and commitment to quality and reliability resonated with what we at Minimizer hold high for success in the heavy-duty trucking sector,” CT said.
Grycko will remain invested in the company as a member of the Management Board, while also performing the role of President for a short period of transition.
“This is the best of both worlds for me, personally,” Grycko said. “While I will remain involved with Minimizer and Premier, this partnership will allow me to pursue other interests while being assured the company and its employees are being looked after, so I was very happy we could move forward with Minimizer and Capital Partners.”
Capital Partners, an investment firm based in Connecticut, has a history of partnering in heavy-duty truck parts companies focused on growth.
“Unlike most private equity firms, we use a low debt investment approach designed to support rapid growth,” Managing Partner Mark Allsteadt said. “Premier is a tremendous fit for Minimizer, with a great owner in Paul Grycko and a committed and strong management team, which remains in place as our partner.”
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