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Bovey company to boost investment in wire-harness industry

Highland Holdings' leadership has ambitious plans to replicate MNSTAR's growth with its new acquisition.

FSA Manufacturing
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BOVEY — Highland Holdings LLC announced Wednesday that it has signed an agreement to purchase Precision Manufacturing Co. Inc., of Dayton, Ohio, with the deal slated to close in the third quarter of this year.

Highland Holdings purchased Bovey-based MNSTAR, its first wire-harness manufacturer, nearly two years ago, and has doubled that company's sales. A news release said the acquisition of Precision Manufacturing will substantially increase its production capacity in the wire-harness industry and help meet growing demand for electrical components.

"When a company like ours has more resources and facilities, we are able to better meet the needs of customers, putting us in the next level of growth," said George Klus, CEO and president of Highland Holdings, in a written statement.

Precision Manufacturing is a family owned business founded in 1967. It employs more than 100 people, and Highland Holdings said it intends to continue manufacturing operations under the Precision Manufacturing name in Dayton.

By comparison, MNSTAR employs about half as many people in Bovey, where it is also laying plans for an expansion. The company's clients include manufacturers of equipment in the marine, automotive, agriculture, construction, transportation and emergency response industries.

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"Both companies are strong players and highly respected in the wire harness industry," said Tammy Wersal, Highland Holdings' chief operating officer, in the same release.

"We are excited to continue our robust performance in the marketplace, and adding this family business puts us in a great position to continue that trend," she said.

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