Dec 13, 2021
High Road Capital Partners' Portfolio Company John Henry Foster Minnesota Completes Sensors Acquisition
High Road Capital Partners (www.highroadcap.com
) announced today that its portfolio company John Henry Foster Minnesota (jhfoster.com
) has completed the acquisition of Sensors Inc. and Sensors Integration Corp. (collectively, “Sensors”), its second acquisition under High Road’s ownership.
) is a leading distributor and integrator of industrial sensing products and systems, including machine vision, process control and monitoring, barcode scanning, and safety guarding solutions. Sensors provides technical service and support for OEMs, system integrators, and end users, and also offers its own patented line of product and package verification, vision and lighting, and safety systems.
John Henry Foster Minnesota (“JHFoster”) was acquired by High Road Capital Partners Fund II, L.P., in May 2019. JHFoster is a leading value-added distributor of motion control parts and accessories, compressed air systems, collaborative robots, industrial robotics, and electrical automation products to manufacturers in the upper Midwest. The company is headquartered in Eagan, Minnesota.
“We are pleased that Sensors is joining the JHFoster family of companies,” said Nicholas Martino, CEO of JHFoster. “This acquisition will provide access to supplier relationships that will continue to offer the best solutions for both companies’ customer bases. Both companies will benefit from the expertise and resources that each has developed over the years, and this knowledge-sharing will certainly benefit our customers and suppliers,” Mr. Martino said.
David Kotula, President of Sensors, added, “We are excited to join the JHFoster team and look forward to leveraging our resources and capabilities to support the growth initiatives of the combined companies.”
Sensors Inc. and Sensors Integration Corp. will continue to operate locally and nationally under the Sensors brand and remain headquartered in Delano, Minnesota. JHFoster will continue to serve its five-state territory from its primary location in Eagan, Minnesota.
JHFoster’s acquisition of Sensors Incorporated closed on December 2, 2021. Ben Schnakenberg, Partner, led the transaction for High Road and was assisted by Tom Cassidy, Vice President, and J.P. Christiano, Associate. Transaction consideration was not disclosed.
High Road has completed 70 transactions – 20 platform investments, 37 add-on acquisitions, and 13 exits – since its founding in 2007.
For further information, please contact Ben Schnakenberg of High Road Capital Partners at (212) 554-3269.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on the smaller middle market. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road targets niche-leading companies with revenues of $5 million to $100 million and EBITDA of $1 million to $10 million. Post acquisition, High Road works in partnership with management to take companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
John Henry Foster Minnesota
Founded in 1938, John Henry Foster Minnesota (JHFoster) is a leading value-added distributor of motion control parts and accessories, compressed air systems, collaborative robots, industrial robotics, and electrical automation products. JHFoster customizes products and solutions to automate manufacturing applications for companies in Minnesota, Wisconsin, North Dakota, South Dakota, and Iowa. The company is headquartered in Eagan, Minnesota, with an advanced robotics design and training facility and UL 508A-certified control panel shop also in Eagan; facilities in Fargo, North Dakota, and Hiawatha, Iowa; and a fully equipped team of mobile service technicians throughout the five-state area. jhfoster.com