Monday, June 24, 2024
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HI-LEVEL IN US TAKEOVER

Leading Doncaster-based motorcycle hard parts trade distributor Hi-Level has been acquired by Arrowhead Electrical Products, a major American aftermarket supplier with its headquarters in Minnesota.

Disposal of this family-owned business, which has 22 staff, is a retirement exit move for founders Davy and Hilda Levine. Their son Paul Levine, its managing director, will continue in his post under the new proprietor.

Boasting annual revenues of more than £60m, Arrowhead serves the motorcycle, agricultural, outdoor power and marine markets with operations in the US States of California, Florida, Maine, Massachusetts, Minnesota and Pennsylvania. It also has international outposts in Canada, China, and Argentina — and now the UK.

Commenting on the deal, Arrowhead chief executive Jim Wisnoski 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 being our customers first choice for their replacement part needs. We are extremely impressed with the Hi-Level management team and their employees’ dedication to delivering superior value to its customers and we look forward to working collectively together to further enhance our offering to Hi-Level’s ever-growing customer base.”

The Leeds office of accountants KMPG acted as transaction advisor to the Levines. Christian Mayo, partner and head of corporate finance at KPMG in Yorkshire, added: “Attracting the interest of such a high-profile player in the international motorcycle parts market is testament to the hard work of the Levine family, which has built a remarkable business. The acquisition by Arrowhead provides Hi-Level with access to significant resources, network and expertise, which will no doubt catalyse the growth of the company.”

 

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