OWATONNA, Minn., Dec. 20, 2023 (GLOBE NEWSWIRE) -- High Bar Brands, LLC (“HBB”), a leading manufacturer and distributor of high-quality commercial vehicle solutions for the heavy-duty trucking industry, with its portfolio of iconic brands, including Minimizer, Premier Mfg., Dieter’s Accessories, Panelite, and Viking Sales, proudly announces its strategic recapitalization with Sentinel Capital Partners (“Sentinel”), effective December 19th,2023.
HBB, headquartered in Owatonna, Minnesota, is the leading supplier of truck and trailer components and solutions to the heavy-duty aftermarket dealers & distributors, parts distribution centers, and original equipment manufacturers across North America, Central America, and South America. HBB was formed as the holding company following the acquisition of the iconic Minimizer brand by Heartwood Partners in August 2018 and the acquisition of Premier Manufacturing in January 2020. Subsequent acquisitions of Viking Sales in August 2022 and Dieters Accessories and Panelite in May 2023 solidified HBB's dominant position in the heavy-duty aftermarket.
Sentinel, a premier New York-based alternative asset manager, specializing in middle-market private equity, acquired HBB from Heartwood Partners (“Heartwood”). Focusing on management buyouts, acquisitions of family businesses, corporate divestitures, and industry consolidations, Sentinel targets investments in high-quality middle-market companies in the United States and Canada. With this approach, Sentinel Partners has raised over $11.2 billion in capital since its inception, with Sentinel having an established track record of helping companies grow through access to the critical resources growing businesses need.
Christopher P. Thorpe ("CT"), President & CEO of HBB, expressed gratitude for the successful five-year partnership with Heartwood, along with equal anticipation for the future with Sentinel. "We truly enjoyed the past five years with Heartwood Partners, as the Heartwood team did exactly what they said they would do by providing direction and support for the company's successful growth, both organically and through acquisitions. We are also looking forward to the next step in our journey with Sentinel, a very reputable firm with almost 30 years of private equity experience, who are aligned with our strategic goals. Over the next few years, HBB, with Sentinel as its partner, will continue to grow by adding value to our loyal customers through product line expansion and geographic reach that will expand our customer base and market share significantly in the heavy-duty trucking market."
Mark Allsteadt, Managing Partner at Heartwood Partners, commended the successful partnership with HBB over the past five years, expressing pride in High Bar's excellence and exceptional management team. Allsteadt looks forward to observing the continued growth trajectory under CT's leadership.
James Coady, Partner at Sentinel Partners, conveyed excitement about partnering with High Bar Brands in their next phase of expansion: "High Bar Brands is an incredible company with an exciting story. We're thrilled to partner with them on their next phase of expansion by providing the resources and guidance necessary to elevate the company to the next level."
About High Bar Brands: High Bar Brands, LLC, is the preferred solutions provider to the commercial vehicle industry with our family of iconic brands. Driven by innovation and an entrepreneurial spirit, we strive for total customer satisfaction through our passionate team and superior products.
Our Portfolio includes Minimizer, Premier Mfg., Dieter's Accessories, Panelite, and Viking Sales. These iconic suppliers have proven processes and a customer-centric approach that has forged a special connection with drivers, fleet owners, and maintenance managers across North America, Central America, and South America. Their feedback is crucial to R&D and has helped our team design and develop numerous patented technologies.
High Bar Brands is renowned for its go-to-market strategies catapulted by a powerful distribution network and supported by an in-house sales and marketing engine. We pride ourselves on being able to deliver our message of quality and service throughout our distribution network to the end user. Our employees are afforded best-in-class operations and equipment, creating powerful production facilities and an efficient office environment.
High Bar Brands is proud to be a member of the toughest industry. Driven by customer needs, their success is what drives our business.
About Sentinel Partners: Sentinel is one of the nation's leading mid-market private equity firms. We invest in management buyouts, acquisitions of family businesses, corporate divestitures, industry consolidations, and going private transactions in the United States and Canada. We also invest in special situations, including balance sheet restructurings and operational turnarounds. We forge partnerships with talented management teams who want to be owners of the companies they operate. Based in New York City, Sentinel has raised more than $11.2 billion of capital since inception.
Our team has an established record and access to the critical resources growing businesses need. And we have the experience and expertise to execute a wide variety of private equity transactions.
