Mangrove Equity Partners is pleased to announce the sale of Hi-Lite Airfield Services, LLC, a provider of specialized, mission-critical airfield maintenance services throughout North America and the Caribbean.
Mangrove’s prior experience helping grow mission-critical service businesses was evident during our investment in Hi-Lite. Our four-man internal operating team worked collaboratively with Hi-Lite’s management team to build enduring value in the business, including by:
• Facilitating the company’s successful carveout and transition from the prior parent and sister entity operations
• Implementing and leading a strategic planning process focused on driving the vital few initiatives to build value, with the core theme of building a foundation and organizational infrastructure well-positioned for future growth and expansion
• Managing and deploying mobile crews safely and effectively throughout the COVID-19 pandemic, achieving a record year and continuing the company’s year-over-year trends
• Accelerating business development efforts focused on winning multi-year, long-term maintenance contracts (“AMS+ contracts”)
• Completing an exit to Frontline Road Safety, generating attractive returns for all stakeholders during an economically-challenging year, and transitioning Hi-Lite to a larger organization where it can continue to expand its market leadership in airfield markings maintenance services
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. We roll up our sleeves and work with intermediaries to do what is necessary to move good deals forward, even in the face of company or deal complexity.