Hastings Manufacturing Company, a nearly 100-year-old global manufacturer of piston rings, has announced its acquisition by RFE Investment Partners, together with management. The firm currently manages more than $450 million in committed capital.
“We are very excited to partner with RFE Investment Partners and continue to grow the business,” commented Bob Kollar, president and CEO. “RFE has a strong track record of acquiring businesses and successfully taking them through their next phase of growth.”
“Hastings Manufacturing Company has great brand recognition, world-class manufacturing and a strong leadership team,” commented Jim Parsons, managing director and partner at RFE. “We see tremendous opportunities for Hastings Manufacturing Company and are excited to become partners in their future growth.”
Hastings also announced that Marion Holt has been appointed to the position of vice president of business development reporting to Kollar. In this capacity, Holt will be responsible for complete management of the company’s sales and marketing in the U.S., Canadian and Australian aftermarkets.
Hastings Manufacturing Company designs, processes and manufactures piston rings globally for the worldwide engine manufacturing and remanufacturing industries. Hastings holds TS16949 and ISO14001 registrations, and is an approved piston ring supplier to Aftermarket Specialists and OEMs worldwide.
For more information, contact Hastings Manufacturing Company at 800-776-1088, or visit www.hastingsmfg.com.
