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Hayes Brakes Managment Buyout Capitalizes on Experience for Future Perfomance
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A management buyout of Hayes Brake LLC, a worldwide leader in the design, testing, manufacture and sales of non-automotive custom-engineered brake systems, has created HB Performance Systems, Inc. Although details of the private sale were not disclosed, the company's current and local nine-member management team has purchased the business with Nautic Partners, a private equity firm, from The Brenlin Group Inc., of Akron, Ohio. The deal was finalized June 10 and included financing by M&I Bank, LaSalle Bank and Chase Bank in Milwaukee.
The company will continue to design and manufacture custom brake systems for the motorcycle, bicycle, power sports and off-road markets, with plans to expand into related businesses that supply these markets. Among its blue-chip customers are: Arctic Cat, Decathlon, Caterpillar, Giant, Harley-Davidson, John Deere, Kona, Polaris, Simplicity, Specialized, Trek, and Textron.
HB Performance Systems considers itself a unique organization. Its management team and employees are enthusiasts for the products (motorcycles, bicycles, snowmobiles, ATVs and construction/ag equipment) for which their systems are a part. They know every aspect of the products they design and manufacture. Most importantly, they know how their products perform, because they spend not only work time, but also leisure time riding and operating those vehicles.
"Our fundamental business objective of delivering high quality, technologically advanced product on time and at a competitive cost to our customers will not waver in the least with this change in ownership," said Rand McNally, president & CEO. "As a matter of fact, having local control over business decisions will make us that much more responsive to our customers and the market."
In addition to the news about Hayes, HB Performance Systems has also announced that they have bought Sun Ringle. For more information about the buyout check out the Hayes Disc Brakes website.
