A Doncaster-based motorcyle parts distributor has been snapped up by a US compnay.
Hi-Level Enterprises, which has been owned and run by the Levine family for almost 30 years, has been acquired by US-based Arrowhead Electrical Products Inc.
It employs 22 staff.
As part of the transaction, financial director Hilda Levine will leave 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. In 2014 sales were more than $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, 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. Hi-Level’s extensive product lines will be promoted and marketed to our existing global customer base to further enhance our commitment to customers.”