Daily News: December 7, 2012

High Road Capital Acquires Accurate Component Sales


High Road Capital Partners has completed the acquisition of Accurate Component Sales, Inc., the ninth platform company for its debut fund, High Road Capital Partners Fund I, LP. Based in New Brighton, MN, Accurate is a value-added distributor of industrial fasteners, hardware and components to manufacturers in the upper Midwest.

High Road’s acquisition of Accurate closed on December 3, 2012. Financing for the transaction was provided by U.S. Bank and Northstar Capital. Quetico Partners advised the sellers. Goodrich and Schnakenberg led the transaction for High Road. Also working on the transaction from High Road were Bill Hobbs, partner, and Paul Langley, associate.

“Accurate’s consultative and service-oriented model helps small- and mid-sized manufacturers improve and streamline their production operations,” said Jeffrey M. Goodrich, High Road partner. “Accurate is well positioned to benefit from U.S. manufacturing growth and the trend toward tighter supply chain integration”

High Road principal Ben Schnakenberg added, “With its value added approach, Accurate has significant opportunity to grow its geographic footprint and expand into new markets. We look forward to partnering with Accurate’s management team to accelerate that growth, both organically and through add-on acquisitions.”

Accurate’s co-founder and CEO Jerry Moehnke will continue to lead the company. Moehnke and Accurate’s management team invested in the transaction alongside High Road. Moehnke said, “By identifying solutions and offering procurement, quality control, and just-in-time fulfillment services for customers, Accurate has developed strong and deep relationships across a variety of end markets.” He continued, “High Road understands the advantages of that approach, and we are excited to have their support.”

High Road has completed 21 transactions, including 19 acquisitions – nine platform investments and ten add-on acquisitions – for its debut fund, High Road Capital Partners Fund I.