HSM Completes Acquisition of Summit Seating
Hickory, N.C.-based HSM today (Dec. 3) announced the acquisition of Summit Seating Inc., a manufacturer of quality seating products for the recreational vehicle, transit bus, van and other specialty type vehicles for original equipment or aftermarket use. According to a press release, the acquisition is expected to expand HSM’s footprint and leadership role in the transportation seating market and will immediately grow both the near- and long-term growth opportunities for the HSM Transportation Solutions business unit.
“We are excited to bring Summit Seating’s technology and capabilities to HSM,” noted Dave Colburn, HSM president and CEO. “With the combination of our people, products, talents and assets, HSM has the opportunity to accelerate the current momentum and cutting-edge innovation that we are bringing to integrated seating solutions. This strategic move supports our ongoing migration from a components supplier to a provider of integrated solutions with a market-focused strategy.”
HSM said it aims to continue the growth it has experienced in transportation seating since acquiring The C.E. White Co. in January, 2013, through “faster innovation, integrated production, increased synergies and unified marketing.”
“Providing customer solutions drove this deal and, as a result of this move, Summit and HSM’s customer base will see an expanded product offering and services continuing our strong tradition of listening to and meeting our customers’ needs,” explained Tony Everett, vice president transportation solutions. “Summit’s high end products will become more accessible to the growing market needs with HSM’s strength and organization behind them.”
Over the next 90 days, all product lines within Summit Seating will be integrated into HSM’s Transportation Solutions business unit, which is headed by Everett. HSM said that during the transition, Summit Seating customers will continue to receive high-quality service from the Elkhart, Ind.-based company.
“As founders of Summit Seating, Sue and I are excited to see Summit Seating become part of HSM, a world-class operation. It will make us proud to watch the growth that they will bring surpass our original expectations,” said Ray Fink, principal, Summit Seating. Fink will remain with the company as director of seating systems-commercial vehicles.