Member Article

Doncaster motorbike supplier races ahead after acquistion by US firm

Doncaster motorcycle part supplier Hi-Level Enterprises has been acquired by US-based Arrowhead Electrical Products Inc.

Hi-Level Enterprises has been owned and run by the Levine family for almost 30 years and employs 22 staff.

Leeds-based teams at KPMG and DWF advised the shareholders of Hi-Level Enterprises.

As part of the transaction, financial director Hilda Levine will exit the business to join husband Davy Levine in retirement, while her son, managing director Paul Levine, will continue to run the UK operations.

The transaction marks the first acquisition outside of North America for Arrowhead, which has been backed by private equity firm Pfingsten Partners since 2011, and provides access to Hi-Level’s extensive sourcing capability and leading position in the UK market.

Arrowhead, is an aftermarket global distributor and light manufacturing organisation that principally serves the power-sports, agricultural, outdoor power, and marine speciality vehicle markets with its headquarters in Blaine Minnesota.

Additional operations are located in Massachusetts, California, Maine, Pennsylvania, Florida, Ontario, Canada, Shanghai China, and Buenos Aires Argentina. In 2014, Arrowhead sales were in excess of $100 million.

Paul Levine, managing director of Hi-Level Enterprises, said: “With the support of Arrowhead and our committed team, we can really push on to expand Hi-Level, driving the business to reach its full potential. We look forward to working with Jim and his team to further grow our business.”

Jim Wisnoski, CEO of Arrowhead Electrical Products Inc., said: “The acquisition of Hi-Level marks a significant milestone in our overall strategy of becoming a major global provider in the markets we serve.

“We are extremely impressed with the Hi-Level management team and their employees dedication to delivering superior value to its customers and we look forward to working collectively together to further enhance our offering to Hi-Level’s ever growing customer base.”

Christian Mayo, partner and head of corporate finance at KPMG in Yorkshire, who was supported on the transaction by Stewart Cape and Cassie Ivel, said: “Attracting the interest of such a high profile player in the international motorcycle parts market is testament to the hard work of the Levine family which has built a remarkable business.

“The acquisition by Arrowhead provides Hi-Level with access to significant resources, network and expertise, which will no doubt catalyse the growth of the company.”

Lester Wilson, Gary MacDonald and Louise Parker of DWF’s Corporate team also advised the shareholders of Hi-Level Enterprises.

This was posted in Bdaily's Members' News section by Clare Burnett .