Mangrove Announces Investment in Hi-Lite Airfield Services, LLC


Hi-Lite Airfield Services, LLC is a Watertown, New York-based provider of specialized, mission-critical airfield maintenance services throughout North America and the Caribbean. Hi-Lite offers innovative and sustainable maintenance solutions to support airport operations and safety management and to ensure compliance with stringent FAA and ICAO regulations.

The transaction (a management-led carve-out from Hi-Lite’s parent company) will allow Hi-Lite to focus exclusively on its core business of airfield pavement maintenance services, including airfield markings, markings removal, runway rubber removal and pavement maintenance. Hi-Lite and it’s former parent company will continue to collaborate to bring the highest level of service to their respective, and often common, customers.

Over the last decade, Hi-Lite and its customers have had tremendous success by establishing multi-year proactive asset management programs, which increase efficiencies and help airport operators maintain the airfield safely and economically.

Mangrove is an uncommonly good fit for Chris Miller (Hi-Lite’s President) and the rest of Hi-Lite’s management team due to:

– Mangrove’s deep experience and meaningful successes supporting operational excellence and growth in mission-critical industrial service businesses, including businesses like Hi-Lite that must efficiently and reliably deploy highly skilled crews and specialized machinery over a broad geography, often on a rapid or episodic basis;
– Mangrove’s flexible and creative approach to helping Chris Miller and his team navigate the complexities of a management-led carveout transaction with a parent company that provided shared leadership, services, facilities and assets and will continue to serve common customers in a tangential service line; and
– Mangrove’s ability to structure a financing package that supports the company’s ongoing capital equipment needs as it continues to grow and maintain the industry’s largest specialized fleet of airfield markings, markings removal and rubber removal machinery.

Mangrove Equity Partners: More Than the Commodity of Capital. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience to create solutions and get deals done.