Uncategorized – Highlander Partners

Highlander Partners Sells Its Defense Technology Business, Dzyne Technologies, To Ondas

Jeff — Mon, 06 Jul 2026 21:01:54 +0000

Combination expands Ondas’ portfolio across multi-domain ISR, counter-UAS, precision strike, mission intelligence and autonomous systems for U.S. and allied defense customers

Together with World View, DZYNE will operate within Ondas Sentinel, a newly created business division that will strengthen Ondas’ U.S. defense portfolio

Transaction significantly strengthens Ondas’ financial profile, adding substantial revenue, positive EBITDA and expanded operating leverage

WEST PALM BEACH, FL / ACCESS Newswire / July 6, 2026 / Ondas Inc. (NASDAQ:ONDS) (“Ondas” or the “Company”), a leading provider of advanced autonomous systems and next-generation defense and security technologies and services, announced today it has acquired DZYNE Technologies, LLC (“DZYNE”). This acquisition establishes Ondas as a vanguard autonomous defense platform, uniting complementary capabilities across multi-domain ISR, counter-UAS, autonomous effects, aerial security, precision strike, autonomous logistics, and AI-enabled mission orchestration to rapidly meet the complex, evolving requirements of modern warfare. The acquisition is valued at $875.8 million and was financed through a cash and stock structure intended to align the incentives of DZYNE management and investors with Ondas’ stockholders. Greater than 50% of the stock consideration is subject to a six-month lock-up.

“The character of warfare is changing rapidly, and military advantage increasingly belongs to organizations capable of deploying autonomous systems at scale,” said Eric Brock, Chairman and Chief Executive Officer of Ondas. “DZYNE brings exceptional technology, world-class engineering talent and mission-ready systems across long-endurance ISR, counter-UAS and autonomous effects. The combination with DZYNE accelerates Ondas’ build-out of the next-generation autonomous defense platform-not through a single breakthrough product, but by integrating complementary, mission-proven technologies into a scaled operating platform. Importantly, DZYNE significantly strengthens Ondas’ financial profile, adding substantial scale and revenue growth. DZYNE is EBITDA positive with a strong and growing margin profile, accelerating Ondas’ path towards profitable, long-term growth.”

DZYNE, a U.S.-based defense technology company recognized for its leadership in long-endurance autonomous aircraft, counter-drone systems and autonomous effects, brings Ondas an operationally mature business with established relationships across the U.S. defense community and allied customers, along with a reputation for moving quickly from prototyping into fielded systems. Ondas believes this combination of technical depth, mission experience, customer trust and operational execution makes DZYNE a uniquely valuable strategic asset as defense organizations accelerate investment in autonomous systems.

“We structured this transaction to take the majority of our consideration in Ondas equity because we believe in the long-term value of the combined platform,” said Jeff Hull, President and Chief Executive Officer of Highlander Partners, the majority owner of DZYNE. “As a firm that invests our own proprietary capital with a patient, long-term horizon, our equity position reflects genuine conviction – not just in DZYNE’s capabilities, but in Ondas’ vision to build a scaled global operating platform for unmanned and autonomous systems serving the defense, security, and critical infrastructure markets. DZYNE’s ISR, counter-UAS, and expendable systems are a natural extension of that architecture, and we believe DZYNE’s technology and team will thrive inside Ondas as part of its broader system-of-systems strategy – together positioned to be a leader in autonomous defense.”

“This acquisition exemplifies our Strategic Growth Program by adding an operationally mature defense technology company with market-leading products, deep customer relationships and immediate financial scale,” said Mark Green, Head of Global Corporate Development & M&A at Ondas. “Integrating DZYNE into our systems-of-systems architecture expands our technology leadership while strengthening our operating platform and financial profile.”

Ondas Sentinel: A New Operating Division for U.S. Scale

Ondas has formed Ondas Sentinel, a dedicated operating division unifying its growing U.S. portfolio of autonomous defense technologies. Initially intended to integrate World View and DZYNE, it combines persistent ISR, counter-UAS, autonomous effects and mission intelligence into a scalable organization built to support larger, more integrated defense programs while leveraging common technology roadmaps, manufacturing, sustainment and AI-enabled mission software.

Ryan Hartman, Chief Executive Officer of World View, will serve as Chief Executive Officer of Ondas Sentinel, while Matt McCue, co-founder and Chief Executive Officer of DZYNE, will become Chief Technology Officer of Ondas Sentinel. Together, they will lead the integration of the businesses and accelerate Ondas’ strategy to deliver integrated autonomous defense solutions at scale.

“Ondas Sentinel creates far more than an organizational structure-it’s a scalable U.S. defense platform,” said Ryan Hartman, Chief Executive Officer of Ondas Sentinel. “By combining World View’s persistent sensing with DZYNE’s mission-proven autonomous systems, effectors, and counter-UAS capabilities, we can engage customers across more mission areas, pursue larger programs and help operators see more, decide faster and act with confidence.”

Compelling Strategic Fit Accelerates Combined Growth Path

DZYNE adds three strategic franchises to the Ondas platform: long-endurance ISR, counter-UAS and autonomous effects. These capabilities have been supported by over $500 million of cumulative R&D and product development investment and directly address several of the fastest-growing priorities in defense modernization, including persistent intelligence, aerial security, affordable mass and distributed operations.

1) Building a Multi-Domain ISR Architecture from the Stratosphere to the Tactical Edge

The acquisition of DZYNE significantly advances Ondas’ multi-domain ISR roadmap, reflecting the Company’s belief that the future of ISR lies in integrated architectures, not isolated aircraft or sensors.

DZYNE’s ULTRA is a long-endurance autonomous aircraft delivering multi-day ISR across large operational areas at significantly lower operating cost and logistical burden than traditional ISR aircraft. With tens of thousands of operational flight hours, ULTRA brings proven persistence to distributed operations, border security, maritime awareness and communications relay-strengthening Ondas’ position in persistent intelligence and bridging World View’s stratospheric sensing with Optimus’ tactical-edge autonomous operations.

The combined Ondas ISR portfolio is expected to span:

Stratospheric ISR: World View’s Stratollites provide persistent sensing, communications relay and strategic intelligence capabilities from the stratosphere, supporting wide-area surveillance, maritime awareness, border security and resilient communications.

Long-Endurance Theater ISR: DZYNE’s ULTRA and LEAP platforms provide long-endurance intelligence collection, reconnaissance and communications relay capabilities for operational theater missions requiring persistence over extended periods.

Tactical ISR: Ondas’ Optimus autonomous drone platform and InsightSense ground sensor technologies provide persistent intelligence and situational awareness at the tactical edge, combining autonomous aerial reconnaissance, distributed ground sensing, force protection and infrastructure monitoring into a unified tactical intelligence layer.

Ondas is also advancing SkyWeaver, an AI-enabled mission operating system being developed in partnership with Palantir Technologies to connect sensors, autonomous platforms, operators and decision-makers across a single operational environment. Built on Palantir Foundry and AIP, SkyWeaver transforms data across the Ondas and DZYNE portfolios into actionable intelligence for sensor fusion, decision support, mission planning and autonomous tasking.

2) IonStrike Completes Ondas’ Counter-UAS and Aerial Security Portfolio

DZYNE’s IonStrike significantly expands Ondas’ counter-UAS portfolio with a fully kinetic, autonomous interceptor designed to detect, track and physically defeat hostile drones in flight. Purpose-built to counter the Shahed-136 class of one-way attack drones and other emerging aerial threats, IonStrike delivers scalable, low-cost interception at the point of engagement, providing an affordable alternative to traditional air defense systems.

IonStrike extends Ondas’ aerial security platform beyond detection and mitigation to complete the kinetic defeat layer of an integrated counter-UAS architecture, enabling Ondas to own the full mission chain-from detection and identification to mitigation, interception and defeat-across military, homeland security and civil markets. Together with DZYNE’s Dronebuster, which we believe to be one of the most widely fielded handheld counter-UAS systems in the world, Sentrycs’ cyber-based detection and mitigation, and Iron Drone’s autonomous interception, IonStrike forms a layered aerial security architecture against evolving unmanned threats:

Detect: Sentrycs, Dronebuster and integrated airspace awareness technologies

Identify: Sentrycs protocol analytics, sensor fusion and AI-enabled classification

Mitigate: Sentrycs cyber takeover capabilities and Dronebuster electronic defeat capabilities

Defeat: Iron Drone autonomous net interception and IonStrike autonomous strike

3) Expanding Capabilities in Precision Strike and Autonomous Effects

DZYNE’s family of unique, low-cost, attritable autonomous systems enables Ondas to support a broader spectrum of missions spanning intelligence, force protection, logistics, and precision effects. As militaries shift toward “affordable mass,” launched effects have been one of the fastest-growing segments of global defense spending, giving commanders scalable, expendable systems at a fraction of the cost of traditional platforms.

DZYNE’s portfolio includes the Blitz autonomous Group 1 UAS and Grasshopper autonomous cargo glider. Blitz pairs long-range autonomy, (150 km range), expendable economics, swarm capabilities and an open, modular architecture into a highly scalable platform aligned with the U.S. Department of War’s (DOW) focus on affordable mass and autonomous effects. Grasshopper delivers up to 500 pounds of critical supplies with precision into contested or denied environments, at a fraction of the cost of traditional logistics platforms.

Financial Profile and Updated Outlook

DZYNE is expected to generate $191 million in revenue for the full year 2026, and more than $300 million in 2027. The Company expects a revenue growth CAGR of greater than 80% from 2025-2028 driven by strong adoption of both the ULTRA platform for long-endurance ISR applications and the kinetic interceptor solution, IonStrike, along with a strong contribution from the counter-drone portfolio, including Dronebuster. DZYNE is expected to be EBITDA positive in 2026 and beyond. EBITDA margins are targeted in the mid-teens in 2027, rising to the mid-20% range by 2028.

For 2026 Ondas is now targeting at least $525 million in revenue, significantly ahead of the Company’s previous target of at least $390 million. The new outlook includes the addition of both DZYNE and the Company’s Omnisys acquisition, which closed on May 21, 2026, and was not contemplated in the prior outlook. Ondas’ new outlook does not include contributions from Cyberhawk, Ondas’ recently announced acquisition that is expected to close during the third quarter of 2026.

Transaction Summary

Under the terms of the transaction, DZYNE shareholders received $200 million in cash and approximately 85 million Ondas shares valued at approximately $675 million. The DZYNE shareholders, led by Highlander, will own approximately 13.8% of Ondas’ outstanding shares. Of the 85 million shares, 45 million-more than half the equity consideration-are subject to a six-month lock-up. Ondas believes this structure balances liquidity needs for DZYNE shareholders and long-term alignment with Ondas’ stockholders.

For additional information regarding the acquisition, please see the Current Report on Form 8-K to be filed with the Securities and Exchange Commission later today. In connection with the acquisition, the Company approved inducement grants of restricted stock units (RSUs) representing 500,000 shares of the Company’s common stock and stock options exercisable for 1,500,000 shares of the Company’s common stock with an exercise price of $7.92 per share to a total of 255 newly-hired employees in connection with the acquisition. The equity awards were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individual’s employment compensation and were granted as an inducement material to his or her acceptance of employment with the Company. The RSUs and the stock options vest over 3 years, subject to the applicable employee’s continued employment with the Company.

Advisors

Citizens Capital Markets & Advisory served as exclusive financial advisor to Ondas and Baird served as exclusive financial advisor to DZYNE Technologies. Akerman LLP served as legal counsel to Ondas and Baker McKenzie served as legal counsel to Highlander Partners and DZYNE Technologies.

Investor Conference Call & Audio Webcast Details

Ondas will host an investor conference call and audio webcast to discuss the acquisition, the formation of Ondas Sentinel, and the strategic importance of the transaction to the Company’s long-term autonomous defense strategy.

Date: Monday, July 6, 2026
Time: 8:30 a.m. Eastern Time
Toll-free dial-in number: 844-883-3907
International dial-in number: 412-317-5798
Call participant pre-registration link: here

The Company encourages listeners to pre-register, which allows callers to gain immediate access and bypass the live operator. Please note that you can register at any time during the call. For those who choose not to pre-register, please call the conference telephone number 10-15 minutes prior to the start time, at which time an operator will register your name and organization.

The conference call will also be broadcast live and available for replay here and via the investor relations section of the Company’s website at ir.ondas.com. A replay will be accessible from the investor relations website after completion of the event.

About Ondas Inc.

Ondas Inc. (NASDAQ:ONDS) is a leading provider of autonomous systems, robotics, and mission-critical technologies for defense, homeland security, public safety, critical infrastructure, and industrial markets. The Company develops and deploys integrated unmanned and autonomous platforms across air, ground, and stratospheric environments, designed to support intelligence, surveillance, reconnaissance, security, and operational missions in complex environments. Ondas’ solutions are deployed globally by government, defense, and commercial customers to protect infrastructure, borders, transportation networks, personnel, and strategic assets.

For additional information on Ondas Inc., visit www.ondas.com.

About DZYNE Technologies, LLC

DZYNE Technologies is a leading developer of autonomous aerial systems and advanced defense technologies, delivering innovative solutions across intelligence, surveillance, reconnaissance, and counter-UAS missions. The company designs and manufactures a full ecosystem of unmanned platforms and payloads-including long-endurance Group 2/3 aircraft, rapid-deployment Group 1 systems, and field-proven counter-drone tools-built to operate in contested and denied environments. With deep expertise in AI-enabled autonomy, modular airframe design, and rapid prototyping, DZYNE supports U.S. and allied defense customers with scalable, mission-ready capabilities that accelerate decision advantage at the tactical edge.

Forward-Looking Statements

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Contacts

IR Contact for Ondas Inc.

888-657-2377

ir@ondas.com

Media Contact for Ondas Inc.

Escalate PR

ondas@escalatepr.com

Preston Grimes

Marketing Manager, Ondas Inc

preston.grimes@ondas.com

Jill Vacek

Director of Communications, Ondas Sentinel

jvacek@worldview.space

SOURCE: Ondas Inc.

SFERRA, a Portfolio Company of Highlander Partners, Acquires Antica Farmacista

Jeff — Fri, 30 Aug 2024 16:17:19 +0000

August 30, 2024 – Dallas, TX – SFERRA Fine Linens, a leading multi-branded luxury linens and home lifestyle holding company, operating under the SFERRA and Pratesi brands, owned by Highlander Partners, today announced the acquisition of Antica Farmacista. Antica Farmacista, founded in 2003, is a luxury home and body fragrance brand with an Italian ethos. It was the first brand to introduce the home ambiance diffuser to the US market. Antica Farmacista sells its products nationwide through multiple channels, including e-commerce, boutiques and department stores, and its offerings are also displayed in some of the world’s most beautiful hotels, including Hotel Bel-Air and Ritz-Carltons. Antica Farmacista’s operations will continue to be conducted from Seattle, Washington, and its employees, including founders Shelley Callaghan and Susanne Pruitt, will join the SFERRA team.

The transaction supports SFERRA’s stated strategic objective of delivering fine craftsmanship and innovation into every room of the home and further expanding into adjacent product segments via selective brand acquisition to enhance its offering to better serve its global base of loyal, discerning customers.

“We believe the addition of Antica Farmacista is highly strategic and complementary to SFERRA’s existing luxury home offerings,” said Michelle Klein, President and CEO of SFERRA. “The acquisition will enhance SFERRA’s breadth in the home fragrance category and strengthen our offering across all channels to better serve our customer base. We are excited to work with Antica Farmacista co-owners Shelley Callaghan and Susanne Pruitt and their team to continue to innovate and grow the business.”

Jeff L. Hull, President and CEO of Highlander, and Chairman of SFERRA, commented, “The acquisition of Antica Farmacista reiterates Highlander’s focus on our Italian luxury branded platform strategy, representing an opportunity for us to acquire a complementary, established luxury brand in the innovative and fast-growing home fragrance category with a differentiated product offering and artfully composed fragrances. We will continue to grow our offerings and reach under the SFERRA, Pratesi and Antica Farmacista brands and will continue to implement a selective “buy-and-build” investment approach through complementary M&A efforts in the luxury home goods category.”

About SFERRA
SFERRA is an Italian luxury lifestyle brand established in 1891 by founder Gennaro Sferra, who created the brand dedicated to impeccable artistry and tailoring. Most recently, in addition to luxury bedding products and accessories, the company has expanded its offerings to include mattresses, accessories for the table, and home and décor gifts. SFERRA’s products are found in major department stores, more than 700 luxury specialty home stores, and boutique hotels and resorts. For more information on SFERRA, please visit sferra.com.

About Pratesi
Pratesi, founded in 1906 in Florence, Italy, is renowned for its unwavering commitment to craftsmanship, iconic elegance, and linens that embody Italian luxury living. For more information on Pratesi, please visit pratesi.com.

About Antica Farmacista
Antica Farmacista, founded in 2003, is a luxury home fragrance brand based in Seattle. Its product offering includes both home fragrance, as well as bath and body products. The Company produces reed and crystal diffusers, room sprays, candles, decorative accessories, and body washes/lotions and perfumes in a variety of fragrances. For more information on Antica Farmacista, please visit anticafarmacista.com.

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. Additional information about Highlander at www.highlander-partners.com.

FDL, a Portfolio Company of Highlander Partners, Enters into Definitive Agreement to Be Acquired By ADM

Jeff — Tue, 19 Dec 2023 06:38:34 +0000

December 19, 2023 – Dallas, TX – Fuerst Day Lawson Limited (“FDL”), a portfolio company of Highlander Partners, L.P., announced today that the Company has entered into a definitive agreement to sell all of its outstanding shares to ADM (NYSE: ADM), a premier global human and animal nutrition company. FDL, founded in 1884 and headquartered in London, is a leading ingredient solutions provider, specialized in the rapid development, formulation and manufacture of natural taste and nutrition solutions for applications across multiple product types and global end-markets. It offers custom flavors, syrups and sauces, fruit preps, juices and juice blends, botanical extracts, bakery ingredients, energy and fortification blends and aroma chemicals, backed by deep applications development expertise. FDL serves a global customer base with a presence in Europe, US, and Asia. The transaction is subject to customary closing conditions.

Founded in 1902, ADM today is one of the world’s largest agricultural supply chain managers and a premier human and animal nutrition provider, offering an unparalleled pantry of ingredients and solutions to meet customer needs for taste, texture, nutrition and functionality. Over recent years, ADM has significantly expanded its flavors capabilities, starting with the acquisition of WILD Flavors in 2014. Since then, ADM has added multiple new offerings to its flavors portfolio through acquisitions, including savory via Eatem Foods; citrus via Florida Chemical Company and Erich Ziegler Citrus; and vanilla via Rodelle. The company has also expanded its flavors capabilities globally with acquisitions like Flavor Infusion South America, organic investments like its Pinghu, China flavor production facility and the expansion of its Berlin flavor facility, and its growing network of innovation centers spanning Europe, Asia, Latin America, and North America.

Eric Beatty, CEO of FDL, said, “We are excited to enter into this agreement with ADM. They’re an ideal partner for us, with global nutrition and flavor capabilities that will provide new opportunities to strengthen FDL’s portfolio of taste and nutrition solutions. In turn, the FDL team looks forward to helping add to ADM’s broad offerings with our diverse portfolio of flavor and functional ingredient systems, IP, and capabilities, as well as the entrepreneurial spirit and innovativeness of human talent that has enabled FDL to become a differentiated market leader today. ADM is synonymous with the best in animal and human nutrition, and together, we look forward to delivering new and innovative ingredient solutions to our global customer base in the food and beverage industry.”

Jeff L. Hull, President and CEO of Highlander and FDL board member, stated, “In 2016, we started with an investment thesis of leveraging FDL’s deep applications development expertise and set out to build a company with a great team and scaled manufacturing capabilities around taste and nutrition solutions. We believe that has been accomplished, and we thank all the FDL employees for their hard work in advancing the Company. Eric and his team will be a great addition to ADM, and the combination will allow this business to go to the next level.”

Rothschild & Co. is serving as financial advisor and DLA Piper UK LLP as legal counsel for FDL.

About Fuerst Day Lawson (FDL)
FDL, founded in 1884 and headquartered in London, UK, is a formulator, developer and manufacturer of proprietary taste and nutrition ingredient solutions serving food, beverage, confections and other consumer markets. It offers custom flavors, syrups and sauces, fruit preps, juices and juice blends, botanical extracts, bakery ingredients, energy and fortification blends and aroma chemicals, backed by deep applications development expertise. FDL serves a global customer base with operations in Europe, US and Asia. For more information about FDL, please visit www.fdlworld.com.

About Highlander Partners
HHighlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. Additional information about Highlander at www.highlander-partners.com.

ARES Acquires the Cardiology Activities of Monza Hospital; Announces the Formation of MONZA-ARES Group

Jeff — Thu, 14 Dec 2023 22:00:45 +0000

With this transaction ARES inherits the largest private surgery hospital in Romania and establishes MONZA-ARES Group as Romania’s leader in private cardiology provider

December 14, 2023 – Bucharest, Romania – ARES Group, a Highlander Partners portfolio company, announces the completion of a transaction to take over the cardiology activity of Monza Hospital in Bucharest from its current owner, Policlinicco di Monza. ARES will now own and operate the entire cardiovascular surgery and interventional cardiology departments of Monza Hospital. Concurrent with this transaction, Brain Hospital will take over the neurosurgery, ENT, orthopedy and other surgical departments of Monza Hospital.

With this transaction, Highlander announces the formation of MONZA-ARES Group (“MONZA-ARES”). Through aggressive expansion, MONZA-ARES Group has firmly established itself has a top provider of private medical services in Romania, with premier, innovative cardiology and interventional radiology solutions in 7 facilities in Bucharest, Cluj-Napoca, Pitesti, Constanta and Tulcea.

Established in 2012, Monza Hospital was built from the beginning as a complex cardiovascular and general surgery hospital, benefiting from the necessary space to accommodate the optimal medical flows for such interventions. Throughout a decade of activity, Monza Hospital has provided high-complexity medical services, within specialties such as cardiology, neurosurgery, orthopedics, ENT and other surgical specialties. Monza’s cardiology department has become renowned for its advanced capabilities and the quality of its medical team.
“In 2016, we became partners of Monza Hospital and together we developed a premium high-performance private cardiology network, providing solutions for all types of cardiovascular conditions. Monza and ARES serviced thousands of Romanian patients and became synonymous with innovation and excellence in cardiology” said Dr. Dan Deleanu, Coordinator of ARES Group’s interventional cardiology department.

“We are happy to further develop the cardiac center of Monza Hospital, addressing cardiovascular diseases in an integrated way, by uniting the Monza and Ares teams for the benefit of our patient. We can now reach more patients throughout the country, through ARES national network” said Dr. Theodor Cebotaru, Head of the cardiovascular surgery section in Monza Hospital.
”We stand before a natural takeover of the activity of Monza Hospital by our partners ARES and Brain Hospital, who will ensure the development of the hospital and center its activity on complex surgery, the main differentiator of the Hospital in the private market in Romania. The Monza, ARES and Brain teams have already been working together for many years and we are confident that this ecosystem will continue to work very well to offer patients innovative solutions to solve complex conditions” said Luca Militello, CEO of Policlinico di Monza.
Dr. Adrian Stroilescu, Managing Director of Highlander Partners, commented “this acquisition confirms ARES’ position as the leading private provider of cardiology services in Romania. Monza is a renowned healthcare provider in Romania and is known for its excellence in cardiology. We are proud to own this unique business and partner with each of its highly skilled doctors and employees. Our newly formed platform, MONZA-ARES Group, will continue to grow throughout Romania with the goal of providing Romanians the highest quality healthcare possible.”

About ARES
ARES Group is a top provider of private medical services in Romania, offering innovative therapeutic solutions in cardiology and interventional radiology. ARES currently owns 10 Cath labs in Bucharest, Cluj-Napoca, Pitesti, Constanța and Tulcea and 3 multidisciplinary clinics, specialized in cardiology, in Cluj-Napoca. ARES’s mission in Romania is to provide access to innovative treatments that preserve bodily integrity, with an emphasis on cardiology. In the spirit of this mission, ARES medical team has performed 18 national medical premieres. Since 2019, ARES is majority owned by the American investment fund Highlander Partners. For more information, visit www.centrele-ares.ro.

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

About Brain Hospital
Up to now, around 2000 neurosurgery interventions, ENT, many of them with a high degree of difficulty, have been carried out annually at the Brain Hospital, performed in multidisciplinary teams of highly specialized surgeons. Doctors trained both in Romania and abroad, with extensive professional experience, passionate about their job and united around common values related to the way the patient should be treated and cared for, will continue to offer high-performance medical services at the Monza Hospital in the future.

Highlander Partners Announces Palmex and Benestar Brands Merger And Pretzilla Spin-off

Jeff — Thu, 07 Dec 2023 21:24:48 +0000

December 7, 2023 – Dallas, TX – Highlander Partners, L.P. (“Highlander”), a Dallas-based private investment firm, today announced the merger of its portfolio company, Benestar Brands (“Benestar”), with Palmex S. de R.L. de C.V. (“Palmex” or the “Company”), a portfolio company of Wind Point Partners (“Wind Point”). In this strategic move, Wind Point will become the majority shareholder of the combined business, while Highlander will retain a significant minority position.

The merger creates a powerhouse in the North American salty snack industry, positioning the combined entity as one of the leading providers of Hispanic and better-for-you salty snacks across the continent. As part of this transformational transaction, the Pretzilla division of Benestar, renowned for its fresh pretzel bread and snack products, as well as its state-of-the-art manufacturing facilities in Milwaukee, WI, will be separately spun out as a stand-alone business entity held by Highlander and Pretzilla’s management, including President and CEO, Bruce Myers.

Based in Chicago, IL, Benestar Brands operates as a holding company for leading brands of snack products, including Mac’s, 4505, Pretzilla, Turkey Creek, Cazo de Oro, PORQ and Chicas Tortilla Chips. These brands encompass a variety of snack options, including pork rinds, tortilla chips, and other extruded snack products. Benestar Brands is a leading manufacturer of pork rinds and top-quality restaurant-style tortilla chips, serving both domestic and international markets, while Pretzilla has secured its place as the leader in the soft pretzel bread and snack categories. Benestar operates seven production facilities across North America (Chicago, IL; Arlington, TX; Milwaukee, WI; Portsmouth, OH; Minford, OH; City of Industry, CA; and Saltillo, Mexico).

Headquartered in Monterrey, Mexico, Palmex is a leading manufacturer of better-for-you and Hispanic snack pellets, an intermediate component in various salty snack products such as veggie sticks and straws, three-dimensional snacks, food carriers, wavy snacks, and other unique forms.

Jose Luis Prado, the current Chairman and CEO of Palmex, will step into the role of Chairman and CEO for the combined organization. With over 30 years of experience leading snack businesses at PepsiCo in the U.S. and Latin America, Mr. Prado brings a wealth of industry knowledge to the table. Mr. Myers will continue to serve as President of the Benestar division within the combined company.

“This powerful combination of Palmex and Benestar represents a transformative step in our journey,” stated Mr. Prado. “It not only accelerates our growth trajectory but also aligns our resources to innovate and capture emerging market trends effectively, both within the ethnic and better-for-you categories. Our goal is to leverage this combination to introduce a wider range of innovative products, thereby enhancing our portfolio of offerings and market reach.”

Jeff L. Hull, President and CEO of Highlander Partners, added, “Uniting Benestar and Palmex marks a significant milestone in our strategic expansion. We have worked hard on building Benestar organically and through multiple acquisitions into a premier branded snack platform with a broad portfolio of exceptional snack products. We’re thrilled about the endless possibilities this partnership opens up, including leveraging each company’s unique capabilities to drive growth and market penetration.”

Jeff Partridge, Partner at Highlander and former Benestar Chairman, also added, “The snack market is rapidly evolving, and this merger is a game-changer. By combining Benestar’s renowned brand portfolio with Palmex’s state-of-the-art pellet extrusion capabilities, we’re setting the stage for a new chapter of innovation and accelerated growth at the company. Highlander will remain actively involved with the combined business from the board level, using its extensive food industry expertise to provide strategic guidance to the combined organization.”

Katten and Creel, Garcia-Cuellar, Aiza y Enriquez SC served as legal counsel, Alvarez and Marsal provided transaction advisory services and RSM provided accounting and tax services. Antares Capital provided financing facilities in support of the merger transaction and Capital One for Pretzilla.

About Benestar
Benestar is a leader in the salty snacks space. The company manufactures pork rinds under the Mac’s, 4505, PORQ and Turkey Creek brands and tortilla chips under the Chicas and Cazo de Oro brands and pretzel bread under the Pretzilla brand. Founded in 1947, the company operates seven production facilities (located in Chicago, IL; Arlington, TX; Portsmouth, OH; City of Industry, CA; Milwaukee WI; and Saltillo, Mexico). Additional information about Benestar at www.benestarbrands.com.

About Palmex
Palmex produces a broad portfolio of wheat, corn and potato-based snack pellets that are sold to large consumer packaged goods companies, regional manufacturers, distributors and “mom-and-pop” retailers across Latin American and the United States. Palmex operates two well-invested safe quality manufacturing (“SQF”) facilities. Additional information about Palmex at www.palmex.com.

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

Highlander Partners Announces the Sale of Bevolution Group

Jeff — Mon, 06 Nov 2023 01:22:41 +0000

November 6, 2023 – Dallas, TX – Highlander Partners, L.P. (“Highlander”), a Dallas-based private investment firm, today announced the sale of its portfolio company, Bevolution Group (“Bevolution” or “the Company”), to Sunny Sky Products, LLC. (“Sunny Sky”), a portfolio company of TJC, L.P. Bevolution is a leading manufacturer of shelf-stable and frozen beverage products for the foodservice industry.

With manufacturing facilities strategically located in Chicago, IL, Fullerton, CA, and Frostproof, FL, Bevolution is known for its three distinguished brands: Dr Smoothie, Tropics, and Refrasia, each underscoring a commitment to quality, innovation, and reliability. The Company’s products are sold to restaurants and bars, academic institutions, coffee houses, fitness centers, healthcare, military, hospitality, convenience store and other markets, facilitated by a broad network of beverage and foodservice distributors.

Highlander launched the initial platform by acquiring Juice Tyme in 2013, which was followed by the acquisitions of Lemon-X (2015), Tropics Mixology (2015), and Dr Smoothie (2016) and rebranding the entire business as Bevolution Group. This strategic consolidation positioned the Company as a comprehensive beverage solution provider with a vast range of products that are highly regarded for their superior taste, functionality, and value proposition. The Company’s portfolio includes premium smoothie bases, beverage powders, shelf-stable and frozen cocktail mixes, juice products, teas, lemonades, sports and energy drinks, slushies, enhanced waters, thickened water and other products.

Alex Guiva, Chairman of Bevolution Group and Partner of Highlander, commented, “Our dedication to innovation, customer service and market trends has shaped Bevolution into a premier beverage platform. It’s gratifying to see that our efforts have allowed the Company to become a clear leader in the hot and cold beverage space priming it for the subsequent phase of expansion under new ownership.”

Jeff L. Hull, President and CEO of Highlander Partners, added, “We are pleased with the sale of Bevolution, which, under our guidance, has evolved into a very broad and comprehensive beverage provider with marquee foodservice brands, robust manufacturing capabilities, and a broad spectrum of beverage solutions. Sunny Sky is a perfect partner to propel the business forward and we are glad to see the Bevolution team partner with them for future growth. This platform was built through an active M&A strategy and having closed more than thirty transactions in the food and beverage category in recent years, Highlander continues to actively pursue high-quality businesses in this sector as new platforms and add-ons for its current portfolio companies.”

Hennepin Partners served as financial advisor and Katten Muchin Rosenman LLP served as legal counsel to Highlander Partners, L.P., for the sale of Bevolution.

About Bevolution Group
Bevolution Group is a leading manufacturer of shelf-stable and frozen beverage products, and cocktail mixes. Bevolution Group offers a growing portfolio of innovative, high-quality beverage products, as well as equipment and service. The company also manufactures products customized to meet specific sensory and delivery needs. Bevolution Group is headquartered in Chicago with production facilities in Chicago, IL, Frostproof, FL, and Fullerton, CA. For more information, please visit www.bevolutiongroup.com.

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

FDL, a Portfolio Company of Highlander Partners, Announces the Acquisition of Quest Ingredients

Jeff — Tue, 06 Sep 2022 14:42:02 +0000

Sept. 6, 2022 – Dallas, TX – Fuerst Day Lawson Limited (“FDL”), a portfolio company of Highlander Partners, L.P., announced today the acquisition of Quest Ingredients Limited (“Quest Ingredients”) from Quest Vitamins Limited. Quest Ingredients, headquartered in Hereford, England, is a manufacturer of high-quality proprietary food flavors, animal feed flavors and active botanical extracts with a repeat client base across the food and beverage, pharmaceutical and agricultural sectors.

Operations will continue to be conducted from Quest Ingredients’ existing facility in Hereford, and its employees will join the FDL team. The transaction supports FDL’s stated strategic objective of expanding in its core markets and customer base in Europe and the United States where there continues to be abundant opportunities for growth.

Eric Beatty, CEO of FDL, said, “We believe the addition of Quest Ingredients is strategic and highly complementary to FDL’s existing portfolio of ingredients and formulated solutions. We are excited to offer Quest Ingredients’ unique process capabilities to existing FDL customers and expand services to Quest Ingredients’ customers with FDL’s products and innovation capabilities. We are thrilled to work with the Quest Ingredients team to continue growing the combined business.”

Chaz Thomas, a Director of Highlander and a board member of FDL, stated, “This acquisition strengthens FDL’s ability to deliver customized flavour and botanical extracts across both customer bases by expanding our capabilities and innovations expertise. We believe growing demand for customized flavourings and health enhancing natural ingredients will continue to be top of mind with our customers, and Quest Ingredients is uniquely positioned to meet these needs. We will continue to be aggressive in growing our innovative ingredient solutions and deepening our capabilities in our core markets.”

Jeff L. Hull, President and CEO of Highlander and FDL board member, added, “This acquisition reconfirms our strategy of executing on attractive add-on acquisitions that enhance and expand FDL’s existing applications expertise and product offerings. We are continuing to evaluate M&A opportunities and expect to make additional acquisitions going forward.”

Alinea Corporate Finance acted as financial advisor and Higgs LLP served as legal counsel for Quest Vitamins Limited. NatWest provided senior financing to FDL in support of the transaction.

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $2 billion of its own proprietary capital. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

About Fuerst Day Lawson (FDL)
FDL, founded in 1884 and headquartered in London, UK, is a formulator, developer and manufacturer of proprietary taste and nutrition ingredient solutions serving food, beverage, confections and other consumer markets. It offers custom flavors, syrups and sauces, fruit preps, juices and juice blends, bakery ingredients, energy and fortification blends and aroma chemicals, backed by deep applications development expertise. FDL serves a global customer base with operations in Europe, US and Asia. For more information about FDL, please visit www.fdlworld.com.

Highlander Partners Announces the Formation of High Point Aerotechnologies LLC, Appoints Jim Gavrilis as President and CEO

Jeff — Mon, 16 May 2022 15:39:09 +0000

Mr. Gavrilis Will Lead High Point’s Efforts in Establishing a Platform in the Counter Unmanned Aircraft Systems (“C-UAS”) Market

May 16, 2022 – Dallas, TX – Highlander Partners, a leading private investment firm with over $2 billion of assets under management, today announced the founding of High Point Aerotechnologies LLC (“High Point” or “High Point Aerotech”). High Point is a holding company formed to pursue the rapidly evolving C-UAS industry through the acquisition and development of established operating companies, emerging technologies, and industry experts. Jim Gavrilis has been recruited to lead High Point as President and CEO. He brings a diverse and distinguished background from military, business, and academia, with extensive expertise in electronic warfare and UAS technology.

Jim is a former U.S. Army officer with over 24 years of experience in command and staff. He has served overseas in Africa, Europe, and the Middle East in training, peacekeeping, and combat operations, including two tours in Iraq commanding and directing joint, interagency, and multinational counter-terrorism and counter-insurgency operations. Throughout his career, Jim served in the 25th Infantry Division, the 3rd and 5th Special Forces Groups, USASOC, the Joint Chiefs of Staff, and the Army Staff’s Special Operations Division.

After retiring from the Army, Jim held senior level positions with several private sector defense contractors. He has served as Vice President for Special Operations Programs, Chief of Staff, and Director of Strategic Initiatives in a variety of Defense and Intelligence companies. He has also served as Senior Advisor to the Center for Naval Analyses, the Johns Hopkins University Applied Physics Laboratory, and USSOCOM. In academia, Jim has taught graduate courses at Georgetown University and George Washington University, and has taught at the State Department’s Foreign Service Institute.

Jim Gavrilis remarked: “I am extremely excited to take the helm at High Point and work alongside Highlander. We are committed to supporting the defense of our nation against this evolving threat and will remain mission focused on developing needed capabilities for the U.S. and our Allies. With the right team and targeted acquisitions, we have a significant opportunity to create a leadership position in the dynamic C-UAS market. We are in the process of recruiting subject matter experts to join the High Point team, and we intend to analyze both mature businesses and developing technologies for potential acquisition.”

“We have been highly focused on exploring the C-UAS arena,” commented Ben Slater, Partner at Highlander. “The industry is young, fragmented and has remarkable growth potential. Our objective is to build a substantial C-UAS platform, and the establishment of High Point demonstrates Highlander’s dedication to this effort. In this nascent industry built on emerging technology, deep and practical expertise is a requisite and Jim is the perfect leader for this undertaking.”

Larry Hirsch, Chairman of Highlander Partners, added, “Under Jim’s experienced leadership, we intend to deploy Highlander’s creative approach to company-building to become a significant factor in the emerging C-UAS industry, which is of critical importance to our national security.”

About Highlander Partners

Highlander Partners, L.P. is a Dallas-based private investment firm with over $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, consumer products, and others. Highlander Partners uses a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

Highlander Partners Announces Sale of Rotometal in Poland

Jeff — Fri, 06 May 2022 20:03:08 +0000

May 6, 2022 – Warsaw, Poland – Highlander Partners, L.P. (“Highlander”), a leading middle market private investment firm based in Dallas, Texas, with offices in Central Europe, today announced the sale of its portfolio company Rotometal (“Rotometal” or the “Company”), in a management buyout led by Grzegorz Dołbniak, the current CEO of Rotometal.

Rotometal, located in Świebodzin, Poland, is a bespoke designer and producer of products serving the printing and converting industries. Rotometal’s magnetic and print cylinders are crucial precision tools for manufacturers of labels for consumer products. The company successfully competes with the world’s largest players in its market segment due to its unique technical know-how, innovative and unique product offering, and strong customer relationships developed over many years. Rotometal is the leading producer of rotary tooling for printing machines in Poland with a significant market share in Europe and is experiencing rapidgrowth internationally.

Highlander acquired a controlling interest in Rotometal in 2017, undertaking significant investments in new and innovative products, expanding manufacturing capabilities and building a new international sales team with direct coverage for key markets across Europe, US and Asia. In 2019, Rotometal brought on Grzegorz Dołbniak as CEO, and he has achieved consistent growth during his term with EBITDA nearly doubling, despite the impact from COVID-19 on both Rotometal and its customers.

“We are very pleased to complete this transaction and happy that Grzegorz is able to become the controlling shareholder. We have been impressed with him and his team’s performance over the past three years and have invested heavily in the company during our ownership period to position Rotometal for continued growth and success going forward. It is very satisfying to see such a successful outcome,” stated Jeff L. Hull, President and CEO of Highlander.

“We could not be happier for Grzegorz and his team. They have done an incredible job in making Rotometal a leader in Central Europe, and we wish them the best as they continue to grow the company,” added Artur Dzagarow, Managing Partner of the Highlander Partners Central Europe – Poland office.

Clifford Chance (cliffordchance.com) served as Highlander’s legal adviser for the transaction.

About Rotometal

Rotometal flagship products are bespoke magnetic and print cylinders sold into the printing and converting industries. The company operates in a single location in Świebodzin, Poland and employs 160 workers. Rotometal was established in 2006 and sells its products to customers around the globe, including the US, Europe, Asia, and the Middle East and Africa.

About Highlander Partners

NiTEO Products, a Portfolio Company of Highlander Partners, Sells Hi-Tech Industries to MPE Partners

Jeff — Thu, 05 May 2022 09:24:11 +0000

May 5, 2022 – Dallas, TX – NiTEO Products, a leading formulator, packager and marketer of automotive appearance, air care and performance / maintenance chemical brands, today announced the sale of Hi-Tech Industries (“Hi-Tech”) to MPE Partners (“MPE” or “Morgenthaler Private Equity”). Hi-Tech, based in Farmington, Michigan, is a leading provider of a full line of branded professional car care product accessories and specialty aerosols to the automotive appearance industry.

The transaction supports NiTEO’s strategic objective of focusing on the growth of its car wash, air care and performance/maintenance chemical brands, that are predominantly manufactured and distributed out of its Hernando, Mississippi facility, and to further concentrate on expanding in its core markets and customer base in the US and Internationally.

Hi-Tech will continue to operate autonomously and all operations will remain unchanged and continue to be conducted from the Company’s two facilities in Farmington, Michigan and Southfield, Michigan, where all manufacturing and distribution takes place. Given the standalone nature of Hi-Tech’s brands and operations, NiTEO will ensure a timely transition without any disruption of service to shared customers. The business will continue to be led by Hi-Tech’s current President, Nathan Iverson.

Mr. Iverson commented, “I am excited to partner with MPE Partners to accelerate our success as a leader in the professional automotive appearance industry with a focus on growing our business both organically and via M&A. We are very appreciative of the support that Highlander and NiTEO provided during our tenure and are excited to continue our growth with MPE Partners.”

Jeff L. Hull, Highlander President and CEO and Chairman of NiTEO Products, said, “Highlander is very happy with the performance of Hi-Tech over the past five years, and I look forward to watching Nathan and his team achieve new levels of success in their next phase of growth.”

Hennepin Partners served as the exclusive financial advisor to Niteo and Highlander for this transaction.

About NiTEO Products

NiTEO is a premier formulator, packager and marketer of highly-regarded automotive appearance, air care and performance / maintenance chemical brands; including AP Formulators and Trans-Mate in the car wash chemical category; CarBrite and Trans-Mate in the detail, dealership and auto auction appearance category; and the Pyroil, Motor Medic and Cyclo brands, along with a license for the Valvoline & MaxLife brands, in the automotive maintenance and performance chemical category, and OZIUM and Scents brands, along with a license for the Glade brand, in the automotive aircare category. Niteo offers a comprehensive line of air care, waxes, polishes, compounds, dressings, soaps, cleaners, solvents, paints and dyes, as well as fuel additives, parts cleaners, starting fluids, brake fluid, power steering fluid, and other functional fluids. For more information, visit www.niteoproducts.com.

About Highlander Partners