Litchfield, IL (PRWEB) February 23, 2012
Teleflex Marine announced today that it has acquired Detwiler Industries, LLC of White Bear Lake, MN, a leading manufacturer of high performance hydraulic jack plates from MarineTech Products, Inc. This acquisition further strengthens Teleflex Marine’s position in marine control systems for powerboats.
“We are very excited to acquire Detwiler jack plates. It is a key addition in our strategy to grow both organically with new products such as our recently introduced Optimus 360 Joystick Control System, our new Xtreme Steering – and through acquisitions,” said Yvan Cote, CEO of Teleflex Marine. “This extension to our boat control portfolio fits well with our objective of continuing to enhance the boating experience. As the leader in bass boat steering, this product will fit perfectly with our SeaStar Pro Hydraulic Steering, SeaStar Pro Power Assist, and our popular Pro Trim.”
Detwiler jack plates are used to adjust the transom height of outboard motors and can be found on flats, bay and bass fishing boats, even offshore race boats. The brand enjoys an excellent reputation, especially in the amateur and professional tournament bass fishing market.
About Teleflex Marine
Teleflex Marine is the leading global provider of OEM and aftermarket products and accessories for the recreational marine and related markets. Sold around the world under the SeaStar, Sierra, BayStar, Prime Line and Proheat brands, the Company’s products are recognized for their quality, reliability and technical innovation. For more information, please refer to the Company’s website at http://www.teleflexmarine.com.
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management and a team of more than 225 investment professionals. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 50 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at http://www.higcapital.com.