Holland & Knight advised private equity client, Heartwood Partners, in its sale of High Bar Brands, a manufacturer and distributor of branded heavy-duty truck aftermarket accessories. The sale was announced on December 20.
The transaction marks the culmination of a successful five-year-partnership between Heartwood Partners and High Bar Brands. With help from Holland & Knight attorneys, Heartwood Partners acquired Minimizer in 2018, which later rebranded as High Bar Brands. Together, Heartwood Partners and High Bar Brands focused on strategic market expansion, sales growth and the execution of High Bar Brands’ strategic value creation playbook. As the platform grew, the companies turned to Holland & Knight to assist in the add-on acquisition of Premier Manufacturing in 2020 and the cross-border acquisition of Dieter's Accessories earlier in 2023.
Headquartered in Norwalk, Conn., Heartwood Partners is a middle market private equity firm founded in 1982.
Based in Owatonna, Minn., High Bar Brands is a leading manufacturer and distributor of heavy-duty truck and trailer components and solutions, with a portfolio of brands including Minimizer, Premier Mfg., Dieter’s Accessories, Panelite and Viking Sales.
Holland & Knight Senior Counsel Marybeth O'Keefe, Partner Evan Seideman and Associate Joseph Speight led the firm’s representation of Heartwood Partners in the sale. They were assisted by Partners Gary Schoenbrun, Chris Marotta, Stephen Humes, John Dierking, Ryan Meadows, Phillip Schreiber, Robert Hill and Marc Druckman, and Associates Jiyeon Barta, Patrick Burri, Allia Howard and Bianca Poehailos.
Holland & Knight regularly ranks among the leading M&A and private equity law firms in reputable, benchmarking league tables published by Bloomberg, Refinitiv, Mergermarket, PitchBook and The Deal. In the first half of 2023, the firm ranked among the top 5 most active law firms in the U.S. and globally for its work in the space. Through the HK Deal Flow® program, Holland & Knight facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.
Heartwood Partners (www.heartwoodpartners.com), located in Norwalk, Connecticut, is a middle market private equity firm founded in 1982. Heartwood is differentiated by a unique lower-leverage, distribution-yielding approach to private equity designed to create equity partnerships with continuing management. Heartwood managed over $1.7 billion in investments and commitments, as of September 30, 2023, and its principals have invested in more than 100 platform and add-on acquisitions. Presently, Heartwood is investing from Heartwood Partners Fund IV, LP which closed in September 2023 and is focused on family and management-owned companies serving the food, agriculture, chemicals, automotive / heavy trucking, packaging, and environmental services markets.
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