High Road Capital Partners has completed the acquisition of John Henry Foster Minnesota, Inc., marking the 10th platform acquisition for High Road Capital Partners Fund II.
Founded in 1938, John Henry Foster Minnesota (JHFoster) is a value-added distributor of motion control parts and accessories, compressed air systems, collaborative robots, industrial robotics and electrical automation products to manufacturers in the Upper Midwest. The company is headquartered in Eagan, MN.
"JHFoster partners with premium suppliers to provide a wide product offering to customers across a diverse array of end markets, including industrial, food and beverage, healthcare and consumer goods. The company employs highly skilled, certified technical service teams to provide installation, integration, maintenance and repair services," said a company spokesperson.
"The acquisition of this differentiated regional market leader builds upon our strong experience in value-added distribution and advanced manufacturing," said Ben Schnakenberg, Partner, High Road Capital Partners. "With its extensive inventory and sought-after design, integration and technical expertise, JHFoster is well positioned to capitalize on small and mid-sized manufacturers' flourishing interest and investment in automated manufacturing systems."
"We are excited to partner with JHFoster, which has the potential to achieve significant growth, both organically and through strategic add-on acquisitions, and support the company in expanding its geographic presence and broadening its product and service offerings," Schnakenberg added.
Jan Hawkins, President of JHFoster said, "High Road has significant expertise with industrial distribution businesses and a proven track record of building market leaders. Their investment will allow us to expand the growth of our business while continuing to provide an outstanding level of service."
Hawkins will continue to lead the company post-closing and will join the company's board of directors. Hawkins and members of JHFoster's senior management team participated in the transaction alongside High Road.
JHFoster at a glance:
- 42,000 sq. ft. Eagan, MN (Twin Cities) headquarters; also a facility in Fargo
- ~27,000 SKUs in inventory
- 122 employees
- Advanced robotics design and training facility and UL 508A-certified control panel shop also in Eagan
- Team of fully-equipped mobile service technicians serve companies in Minnesota, Wisconsin, North Dakota, South Dakota and Iowa.
For more information contact:
High Road Capital Partners
1251 Avenue of the Americas, Ste. 825
New York, NY 10020
212-554-3265
info@highroadcap.com
www.highroadcap.com
John Henry Foster Minnesota
3103 Mike Collins Drive
Eagan, MN 55121
651-452-8452 / 800-582-5162
www.jhfoster.com