For Immediate Release
Watertown, NY – January 13, 2020 – Hi-Lite Airfield Services, LLC ("Hi-Lite" or the "Company"), which recently celebrated its 30th anniversary, is pleased to announce the successful completion of a Management Buyout transaction in partnership with Mangrove Equity Partners. Entering its fourth decade and building on a record year in 2019, the Hi-Lite team is excited about the Company's renewed ability to focus on its customers and core business lines as an autonomous entity.
The transaction will allow Hi-Lite to focus exclusively on its core business of airfield pavement maintenance services, including airfield markings, markings removal, runway rubber removal and pavement maintenance. The transaction will also allow Hi-Lite's former affiliate, Spec-Rite Systems, LLC, a data and software company, to spin off as a separately owned and operated entity to focus on its core software platform. Hi-Lite and Spec-Rite will continue to collaborate to bring the highest level of service to their respective, and often common, customers.
"We are excited to move on to the next chapter and continue the growth and opportunities here at Hi-Lite. The existing management team remains committed to servicing our existing customers, creating new relationships, and expanding partnerships under long-term maintenance agreements," said Chris Miller, President of Hi-Lite Airfield Services.
"Making airports safe is our legacy. I am grateful for the many great team members that will continue to lead Hi-Lite," said John McNeely, past CEO of Hi-Lite and current CEO of Spec-Rite Systems. The company was founded by the McNeely family in 1989.
Hi-Lite is committed to continue offering its customers the same premier service levels with unparalleled attention to quality and safety. The Company is also focused on expanding its portfolio of long-term airfield pavement maintenance contracts at airports across North America. Over the last decade, Hi-Lite and its customers have had tremendous success by establishing multi-year proactive asset management programs, which increase efficiencies and help airport operators maintain the airfield safely and economically.
Hi-Lite's best-in-class service is driven by its decades of airfield maintenance expertise and the industry's largest fleet of specialized airfield maintenance equipment. Hi-Lite has established strategic operation centers across North America to improve service levels and reduce mobilization times, with projects spanning from Miami to Vancouver.
About Hi-Lite Airfield Services
Hi-Lite is an airfield maintenance company with industry-leading expertise in airfield safety management, providing services throughout North America and the Caribbean. Hi-Lite offers innovative and sustainable maintenance solutions to improve airport operations and to ensure compliance with stringent FAA and ICAO regulations.
Note: As a result of Hi-Lite's continued growth, following the transaction Hi-Lite is no longer a small business enterprise and should not be designated as such in any solicitations or contracts.
Christopher J. Miller, President
Hi-Lite Airfield Services, LLC
P.O. Box 597, Watertown, NY 13601