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Classified in: Transportation, Science and technology, Business
Subject: TNM

Highland Properties, LLC Closes on Deal to Purchase MNSTAR Technologies


BOVEY, Minn., Sept. 15, 2020 /PRNewswire-PRWeb/ -- Highland Properties, LLC announced today it has closed on the purchase of MNSTAR Technologies, a leader in providing electrical system solutions and high-quality manufactured wire harnesses. Along with the change in ownership comes a new name, MNSTAR Group Highland Holdings, LLC. This name change increases the scope and breadth of the MNSTAR brand. While the deal closed today, Highland Properties, LLC has been operating the business under a management contract since May 14.

Founded nearly 30 years ago in a Grand Rapids basement and garage, MNSTAR 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 associates presently, MNSTAR has been a working 23-thousand square foot manufacturing facility to hundreds of workers for nearly three decades.

"We are eager to enhance the capital of this long-standing company and expand upon its history of being a leader in the industry," said George W. Klus, Chairman of Highland Properties. "Our goals include improving business levels and expanding our client base to help add jobs on Minnesota's Iron Range."

MNSTAR founder Michael Rhodes will stay with the company as a staff engineer.

"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, which he believes will invigorate the company and provide steady growth.

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.

"We are committed to generating growth while holding true to the founding principles of MNSTAR," said Boie. "The most important resource this company has is 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 Group Highland Holdings, LLC.

"We are already strengthening relationships with our current customers to improve our ability to serve them. We will position ourselves to win more business from around the state, region and country," 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 added that it is important in challenging times for manufacturing companies of all sorts to make commitments to use products made in America.
"We pledge to use products made in the USA to ensure our customers are getting the best materials possible, all while supporting the American economy," he said. "We look forward to hitting the ground running and being our absolute best."

About MNSTAR Group Highland Holdings, LLC:
Founded in 1993, MNSTAR 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 robbl@leercommunication.com for more information on MN Star Technologies go to https://mnstar.com/ or https://www.facebook.com/MNSTAR.Group.1

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SOURCE MNSTAR Group Highland Holdings


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News published on 15 september 2020 at 12:00 and distributed by: