High Road Capital Partners has completed the acquisition of Accurate Component Sales, the ninth platform company for its debut fund, High Road Capital Partners Fund I.
Based in New Brighton, Minnesota, Accurate is a distributor of industrial fasteners, hardware and components to manufacturers in the upper Midwest.
“Accurate’s consultative and service-oriented model helps small- and mid-sized manufacturers improve and streamline their production operations,” says Jeffrey M Goodrich (pictured), High Road partner. “Accurate is well positioned to benefit from US manufacturing growth and the trend toward tighter supply chain integration.”
Accurate’s co-founder and chief executive Jerry Moehnke will continue to lead the company. Moehnke and Accurate’s management team invested in the transaction alongside High Road.
Moehnke says: “By identifying solutions and offering procurement, quality control, and just-in-time fulfilment services for customers, Accurate has developed strong and deep relationships across a variety of end markets. High Road understands the advantages of that approach, and we are excited to have their support.”
High Road’s acquisition of Accurate closed on 3 December. Financing for the transaction was provided by US Bank and Northstar Capital. Quetico Partners advised the sellers. Transaction consideration was not disclosed.