Highland Holdings II LLC has signed an acquisition agreement to acquire Precision Manufacturing Company Inc. of Dayton, Ohio.The agreement is expected to close in the third quarter of 2022.This acquisition will further strengthen Highland Holdings LLC’s position 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 grown 100%.The addition of a second wire harness manufacturing company will allow Highland Holdings to immediately expand capacity to help the company keep pace with growing market demand.
“This acquisition will give us greater manufacturing capabilities,” said George Klus, CEO and President of Highland Holdings LLC.”When a company like ours has more resources and facilities, we are better able to meet the needs of our customers, taking us to the next level of growth.”
Headquartered in Dayton, Ohio, Precision Manufacturing Co. Inc. has been a family-owned business since 1967 with more than 100 employees.Highland Holdings intends to keep the Ohio facility open and retain the Precision name, thereby further strengthening Highland Holdings’ geographic presence.
Adding precision manufacturing to the Highland Holdings LLC family will help Highland expand its customer base, the company said.
“Both companies are strong players and well-respected in the wire harness industry,” said Tammy Wersal, Chief Operating Officer of Highland Holdings LLC. “We are excited to continue our strong performance in the market, and joining this family-owned business puts us in a position to continue A vantage point for this trend.”
Klus said 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 have greater demand for the products we make,” Klus said.”As our customers grow, so does their demand for the high-quality custom products we offer them due to increased demand.”
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