Hastings Manufacturing Company has announced its acquisition by RFE Investment Partners, together with management.
RFE Investment Partners (“RFE”) is a private equity firm based in New Canaan, Connecticut with over 30 years of experience investing in growth companies with strong management teams operating in the manufacturing and service sectors. RFE is actively investing its eighth fund and currently manages more than $450 million in committed capital.
“We are very excited to partner with RFE Investment Partners and continue to grow the business,” commented Bob Kollar, president and CEO. “RFE has a strong track record of acquiring businesses and successfully taking them through their next phase of growth.”
“Hastings Manufacturing Company has great brand recognition, world-class manufacturing and a strong leadership team,” commented Jim Parsons, managing director and partner at RFE. “We see tremendous opportunities for Hastings Manufacturing Company and are excited to become partners in their future growth.”
Hastings Manufacturing got its start in 1915 with production of a wide range of automotive components, including oil pumps, bumpers and luggage carriers, from a manufacturing plant in Hastings, Michigan USA. Eight years later, the Company introduced its first piston rings, which would grow to become the centerpiece of its business. Recognized by the automotive, industrial, lawn & garden, engine/compressor community for its technical innovations, Hastings Manufacturing has enjoyed many decades of growth.
Hastings Manufacturing Company designs, processes and manufactures piston rings globally for the worldwide engine manufacturing and remanufacturing industries. Hastings holds TS16949 and ISO14001 registrations, and is an approved piston ring supplier to Aftermarket Specialists and OEMs worldwide.