Heartwood Partners officially concluded its partnership with High Bar Brands on December 19, 2023. Home run outcome and a strong exit in a year where most private equity firms have had challenges selling. High Bar manufactures and distributes heavy-duty truck and trailer spare parts, with headquarters in Owatonna, Minnesota. The company provides quality commercial vehicle solutions, including trailer components, to aftermarket dealers and distributors.
The partnership between Heartwood Partners and High Bar Brands spanned five years. Throughout this period, the senior management of High Bar successfully steered the business to new heights by expanding sales channels, diversifying product lines, and enriching the brand portfolio. The top-tier management team at High Bar also improved the brand’s supply chain by leveraging modern technology. This enhanced the company’s value proposition and boosted customer loyalty.
According to Christopher P. Thorpe, High Bar president and CEO, the company achieved much during the partnership tenure due to Heartwood Partners’ low debt structure and unwavering support throughout the investment tenure. Heartwood Partners’ unique investment approach allowed High Bar to channel its focus to strategic market expansion and sales growth made possible by the addition of new products.
