Hidden Creek Industries To Acquire Hadley Auto Transport
December 21, 1999
Hidden Creek Industries, Minneapolis, has acquired Hadley Auto Transport, Santa Ana, CA.
Hadley, which will continue under the direction of the current management team, has annual revenues in excess of $100 million. It provides transport services to automotive manufacturers, including Ford and Chrysler.
HCI and its partner Onex Corp. will acquire a majority of Headley's currently outstanding shares. Certain current stockholders of Hadley will retain ownership of 20% of the company.
The acquisition is part of Hidden Creek Industries' strategy of consolidating specialized design, engineering, manufacturing, assembly, transportation and accessory suppliers to the automotive industry under the Automotive Performance Industries name.