NEW YORK, July 19, 2022 /PRNewswire/ — Parcrest Advisors (“Parcrest”) served as the exceptional financial investment banking advisor to 3D Vehicle Care (“3D” or the “Organization”) on its strategic investment from MPE Associates (“MPE” or “Morgenthaler Personal Equity”) together with MPE’s portfolio enterprise Hi-Tech Industries (“Hi-Tech”). 3D is globally regarded as the maximum top quality model of vehicle treatment and automotive detailing goods, comprised of compounds, polishes, ceramic coatings, cleaning supplies and equipment. The Firm manufactures the greatest quality compounds and polishes out of its Santa Clarita, California headquarters and operates multiple amenities in California, Ohio and Florida. Providing as a result of expert detailing, system store and e-commerce channels, 3D carries on to increase its latest presence in above 26 states and 57 nations around the world about the environment.
Launched in 1996, 3D has developed to turn out to be a worldwide, economic downturn resistant, multi-channel enterprise with a sturdy basis to travel exponential growth. In the previous 3 decades, the Corporation has invested in developing a finest-in-class abrasives manufacturing procedure, opened Ohio and Florida warehouses and launched its own direct-to-purchaser web site.
“Engaging Parcrest Advisors has been a person of the ideal choices our family members could have designed. Integrity, transparency and unrelenting advocacy by each twist and transform of this journey sets Parcrest apart from other economical establishments. Bankers at Parcrest stood by our story and our values, and crafted a competitive procedure with many skilled strategic and monetary investors. This gave us a unique opportunity to choose the ideal companion for the long run of 3D,” stated Tunch Goren, Founder and Chief Executive Officer of 3D.
“We ended up extremely pleased to get the job done with Parcrest, who played a vital role in working a reasonable, successful system and eventually making certain a prosperous end result for all events concerned. MPE views 3D as extremely complementary to its former financial commitment in Hi-Tech Industries, in which significant chances exist for industrial collaboration. We are thrilled to have the chance to husband or wife with 3D on the upcoming chapter of its evolution.” mentioned Constantine Elefter, Principal at MPE.
“Delighted for the Goren family and fired up about the new journey in advance for 3D. The combination of 3D and MPE is a ideal match allowing for the Goren family members to improve proceeds and to lover with price-added cash that permits the company to realize new heights. We are energized to have experienced the prospect to suggest on the sale of this sort of a superior-quality business and quality asset and stay enthusiastic about the brand name and prospects ahead,” said Francisco Lume, Controlling Companion at Parcrest Advisors.
“This distinct transaction signifies a milestone offer for Parcrest. Our system resulted in a quality valuation in the automotive aftermarket sector, which proceeds to be a considerable aim for Parcrest. We are honored to have been entrusted with this essential obligation and happy to have sent a fortuitous final result for the Goren household, 3D and MPE,” mentioned James C. Lee, Founder and Handling Spouse of Parcrest Advisors.
About 3D Automobile Care
3D Automobile Care is a globally identified manufacturer of the greatest high-quality car care and vehicle detailing goods to the professional detailing, system store and e-commerce channels. The Enterprise manufacture and sells compounds, polishes, ceramic coatings, cleaning supplies and extras. More details about 3D can be discovered at www.3Dproducts.com.
About Hello-Tech Industries
Headquartered in Farmington, MI, Hi-Tech is a leading service provider of innovative automobile treatment extras, appearance liquids, and specialty aerosols. With around 2,300 SKUs marketed across 8 very-acknowledged brands, Hi-Tech is the preeminent just one-halt resolution in the detailing and reconditioning current market. For far more info, please pay a visit to www.htiusa.com.
About Morgenthaler Non-public Fairness
Morgenthaler Non-public Equity seeks to be the most popular lover for entrepreneur- and relatives-owned organizations. Based in Cleveland, OH, and Boston, MA, MPE invests in rewarding, decreased middle industry providers with transaction values up to $250 million. MPE has two most important focus on financial commitment areas: superior-price production and professional & industrial services. For additional details, please visit www.mpepartners.com.
About Parcrest Advisors
Parcrest Advisors is a quickly growing expense financial institution based mostly in New York Town with a sturdy emphasis in purchaser and industrials sectors. In purchase to present securities-relevant companies talked over herein, principals of Parcrest are licensed with Unbiased Financial investment Bankers, Corp. member FINRA & SiPC. Impartial Investment decision Bankers, Corp. and Parcrest are not affiliated entities. More information and facts about Parcrest is out there at www.parcrest.com.
MEDIA CONTACTS
James C. Lee
Founder & Handling Spouse
+1 (212) 520-1717
[email protected]
Francisco Lume
Running Partner
+1 (212) 520-1718
[email protected]
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