“We intend to grow this business”
GRAND RAPIDS, Mich. (PRWEB) May 14, 2020
Highland Properties, LLC announced today it has signed a purchase agreement to acquire MNSTAR Technologies, a leader in providing electrical system solutions and high-quality manufactured wire harnesses. The impending purchase will enable MNSTAR Technologies to expand in both size and scope of its business. As part of the agreement, Highland Properties will immediately take over the day-to-day management of the business.
Founded nearly 30 years ago in a Grand Rapids basement and garage, MNSTAR Technologies has grown to be a leader in the wire harness industry which serves manufacturers of cars, emergency vehicles, boats, RVs and construction vehicles. With 50 employees presently, MNSTAR has been a working 23-thousand square foot manufacturing facility to hundreds of workers for nearly three decades.
“This is a good opportunity to enhance a long-standing family owned business with a great history and a nationwide presence in the industry,” said George W. Klus, Chairman of Highland Properties. “We intend to grow this business building upon the legacy that has been created and add jobs on Minnesota’s Iron Range.”
MNSTAR founder Michael Rhodes said that the time and situation was right to pass the torch. While no longer the owner, Rhodes will stay with the company as Director of Engineering and Product Development.
“I am excited to work with this ownership group and help them expand on the opportunities we started,” said Rhodes. “This change will help us move to the next level in the industry.”
Klus said the industry is changing and he intends to bring MNSTAR up to speed with an infusion of capital and leadership.
Leading the day-to-day operations of MNSTAR is President and CEO Kip Boie, a Navy veteran with more than four decades of manufacturing experience.
“This is a labor-intensive business that has limited opportunities for automation,” said Boie. “We are committed to the most important resource this company has, our employees. We are focused on creating a consistent and sustainable business model that will enable us to employ even more of our neighbors.”
Boie said that the outlook for growth is good for MNSTAR.
“Our first action steps will be to solidify relationships with our current customers to improve our ability to serve them. We will position ourselves to win more business from these growing customers. From that solid base we will begin reaching out to new customers to grow our business,” said Boie. “I believe that with an infusion of resources this company will not only expand physically, but also in terms of employees and in the scope of the clients we serve.”
Klus said that once he closes on the business officially, he intends on making subtle, but significant changes to the business.
“We will expand and find customers locally and across the country to do with business with,” he said. “We will continue to be innovators in this field.”
About MNSTAR Technologies:
Founded in 1993, MNSTAR Technologies is a leader in providing electrical system solutions and high-quality manufactured wire harnesses with "Quality by Design". MNSTAR designs innovative solutions that provide manufacturability to the customer and serviceability to the end user. This strategy allows MNSTAR Technologies to maintain an overall leadership position in the Emergency, Commercial Truck, Quality OEM, Marine and Energy markets. Attention reporters and editors – all of the newsmakers in this release are available for interviews – to make scheduling easy and hassle free – contact Robb Leer publicist 612.701.0608 firstname.lastname@example.org for more information on MN Star Technologies go to https://mnstar.com/