Bear Diversified Inc., announced on July 31, 2015 it completed the acquisition of 100% of the stock of London, Kentucky-based Highlands Diversified Services, Inc. (HDS). Bear Diversified is a privately held holding company formed to complete the acquisition of HDS. It is also the parent company of Cleveland, Ohio-based Northern Stamping, Inc. (NSI).
NSI has been a supplier of complex metal stampings and highly engineered welded assemblies to the automotive industry since 1989. HDS is a highly-regarded solutions provider of metal stampings and complex assemblies to the satellite television, automotive and aerospace industries.
“The acquisition of HDS and pairing it with NSI represents a great opportunity to combine two exceptional companies,” said Chairman and CEO of Bear Diversified Matthew Friedman. “The acquisition will benefit both companies’ customers by providing a wider range of press size and other manufacturing processes, an expanded global footprint, and greater financial flexibility. The formation of Bear Diversified and the acquisition of HDS are the first steps in a broader growth plan to expand product offerings and industry synergies.”
Founder and Chairman of HDS Daryl Weaver added he was extremely gratified to see HDS added to the Bear Diversified Group of companies. “I take great pride in what we have created at HDS and am confident that this is the beginning of the next phase of growth for our London, Kentucky colleagues. Bear will be an excellent partner for our customers.”
JP Morgan Chase, the long-term supporter of NSI and Bear Diversified, acted as Administrative Agent and Lender for the transaction. HDS was represented by The Capitol Corporation, a Greenville, South Carolina investment advisory firm.
About Bear Diversified Inc.: Headquartered in Cleveland, Ohio, Bear Diversified Inc. is a world class supplier of highly engineered structural products including stamped components, complex welded assemblies, and electro-mechanical assemblies. The company also provides domestic and international warehousing and distribution services.
About Northern Stamping, Inc. (NSI): Headquartered in Cuyahoga Heights, Ohio, Northern Stamping, Inc. has manufacturing locations in Ohio, Michigan and Mexico as well as a strategic partnership in Ningbo, China. NSI is an innovative supplier of complex engineered stampings and welded assemblies primarily for the automotive industry. NSI distinguishes itself by solving difficult engineering and production challenges, taking pride in providing a responsible manufacturing environment with an efficient cost structure, high quality production, and 100% on-time delivery. NSI also provides its customers with quick response times and flexibility, allowing it to be a solutions-oriented supplier.
About Highlands Diversified Services, Inc. (HDS): Located in London, Kentucky, Highlands Diversified Services, Inc. offers core competencies in metal stamping and fabrication, welding (both resistance and robotic), drilling, tapping, staking, powder coat painting, electro- mechanical assembly, and warehousing and distribution. HDS collaborates with its customers through ownership, leadership and partnership activities to provide solutions to support parallel long term growth strategies. HDS prides itself on its customer service, supported by the company’s core values of building customer relationships, development of associates, safety and teamwork.
