Hicks Equity Partners and The Riverside Company have partnered with manufacturing executive Christopher DiSantis to form H-D Advanced Manufacturing Company.
H-D, which will specialise in heavy-duty, precision engineered industrial components, has already acquired large custom gearbox maker Overton Chicago Gear Corporation.
DiSantis previously worked as CEO and president of former Hicks portfolio company Latrobe Specialty Metals, and was previously president and COO of ex-Weinberg Capital portfolio company Hawk Corporation.
Hicks chairman and CEO Thomas Hicks said, “The formation of H-D Advanced Manufacturing, with Overton as its foundation, provides an excellent opportunity to create value in the high-precision manufacturing sector.
“We are very pleased to partner with Riverside in building H-D behind the leadership of Chris DiSantis and Dale Mikus, with whom we have worked successfully in the past, and the management team of Overton.
“Under this leadership team, we believe H-D is very well positioned to be at the forefront of what we see as a resurgence of US manufacturing.”
Earlier this year LA-based private equity firm The Gores Group agreed to buy The Hay Group, a European manufacturer of components for engines, gearboxes and axles for the automotive, commercial vehicle and bearing industries.
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