West Palm Beach, Florida, October 2007 – The ComVest Group, through its Control Fund, ComVest Investment Partners III, LP, has acquired Hi-Way Equipment Company (“Hi-Way”) for $17.25 million. ComVest has also acquired the plant and inventory from which Hi-Way conducts its operations.
Hi-Way is based in Houston, Texas, and is a multi-line dealer and distributor for heavy equipment manufacturers. The company sells, rents, and services telescopic boom excavators, front-end loaders, paving and asphalt machines, pipe handlers, street sweeping equipment, and various ancillary parts and attachments. The company services private contractors and governmental entities in the highway construction, drainage improvement, and commercial and industrial sectors. For more information, please visit www.hi-wayequipment.com.
The ComVest Group is a leading Private Equity firm focused on investing in middle-market companies. Since 1988 ComVest has invested more than $2 billion of capital in over 200 public and private companies worldwide. Through our extensive financial resources and broad network of industry experts, we are able to offer our companies total financial sponsorship, critical strategic support, and business development assistance. Our focus is centered on building industry leading companies and creating long term value for equity holders. For more information on ComVest, visit www.comvest.com.