Cleveland, OH, and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”) along with portfolio company Hi-Tech Industries (“Hi-Tech”), today announced a strategic investment in 3D International, LLC d/b/a 3D Car Care (“3D” or the “Company”), a vertically-integrated designer and manufacturer of premium vehicle care and detailing products sold through professional and consumer channels. 3D offers a comprehensive line of innovative and highly efficacious compounds, polishes, waxes, ceramic coatings, liquid chemicals, and hard good accessories serving customers across the United States and over fifty countries worldwide.
MPE partnered in the transaction with 3D’s founder, Tunch Goren, as well as its management team, led by President Juan De Rada. Nathan Iverson, Chief Executive Officer of Hi-Tech, said, “Tunch and his team have established 3D as an industry leader in product innovation and abrasive technology coupled with a go-to-market strategy that appeals directly to the most highly skilled paint, body, and equipment and detailing professionals as well as discriminating enthusiasts. Hi-Tech is excited to welcome 3D as a sister company in the MPE portfolio.”
Constantine Elefter, Principal at MPE, added, “3D is well positioned for organic growth by capitalizing on historical investments made in branding, new product formulation, omni-channel sales development, and manufacturing capabilities. We are thrilled about extending the foundation laid by Tunch to reach new professional customers and do-it-yourselfers in combination with Hi-Tech.”
Tunch Goren noted, “We are enthusiastic to join with MPE and Hi-Tech and are confident that this strategic partnership will further accelerate 3D’s growth trajectory and continued evolution.”
Apogem Capital provided financing to support the transaction. Jones Day served as legal advisor to MPE. Parcrest Advisors acted as the investment banking advisor to 3D.
About 3D International
Headquartered in Santa Clarita, CA, 3D is a leading manufacturer of car care and detailing products. 3D’s comprehensive line of innovative and high-quality compounds, polishes, ceramic coatings, cleaning supplies, and accessories serves customers across the United States and over fifty countries worldwide. For more information, please visit www.3Dproducts.com.
Headquartered in Farmington, MI, Hi-Tech is a leading provider of innovative car care accessories, appearance liquids, and specialty aerosols. With over 2,300 SKUs sold across eight highly-recognized brands, Hi-Tech is the preeminent one-stop solution in the detailing and reconditioning market. For more information, please visit www.htiusa.com.
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.