ARCH Global Precision Announces the Sale of Hi-Vol Products to LISI Group
LIVONIA, Michigan, September 21, 2018. ARCH Global Precision (“ARCH”), a Strength Capital Partners and Main Post Partners platform company that is focused on manufacturing precision cutting tools, precision machined industrial components and medical implants and instruments, has sold the assets of its Hi-Vol Products subsidiary to LISI Automotive, a subsidiary of LISI Group, a French public company focused on providing products serving the aerospace, automotive and medical end markets. Specific terms of the transaction were not announced.
“It is a bittersweet day at ARCH Global Precision as we announce the divestiture of our Hi-Vol Products business unit to LISI Group,” commented Eli Crotzer, ARCH Global Precision President and Chief Executive Officer. “On one hand I am exceedingly happy for all of our colleagues at Hi-Vol as they join a great organization in LISI that is intimately familiar with the inner workings of the automotive markets. On the other hand, it is an emotional day to have one of the founding businesses of ARCH leave the organization. In addition, I have been working closely with the team at Hi-Vol for the last 15 years, and I want to acknowledge everyone at Hi-Vol for his or her hard work, commitment, personal sacrifices, and friendship over the years. It has been both an honor and a privilege to work with so many wonderful people over the last 15 years.”
Mr. Crotzer further commented, “The sale of our automotive components business, Hi-Vol Products, repositions our portfolio to be focused primarily on cutting tools, medical implants and instruments, and high-precision components for the aerospace and defense markets.”