Hi-Tech Rubber, Inc., founded in 1982, is a leading molder of precision elastomeric components based in Anaheim, California. Hi-Tech's proprietary engineering expertise, efficient high volume production capabilities, competitive pricing and superior customer service have established the company as a sole source supplier for over 80% of the components it manufactures. Hi-Tech uses liquid silicone rubber, organic rubber compounds, and thermoplastic elastomers as raw materials to manufacture complex, difficult-to-mold parts for critical customer applications. The company produces approximately two-thirds of its components for medical device manufacturers, with the balance for customers in the technology and industrial sectors. Red Diamond Capital, together with management and Century Park Capital Partners, a private equity sponsor based in Los Angeles, jointly acquired Hi-Tech in March 2004.
In October 2004, Hi-Tech purchased the assets of A.C. Hoffman Engineering, Inc., a manufacturer of precision molded rubber components based in Riverside, California. Following completion of Hi-Tech's new 50,000 square foot plant in Riverside, Hoffman's operations will be integrated into the new facility. The new manufacturing operation will offer state-of-the-art clean room molding capabilities for customers in the medical industry.
In March 2005, Hi-Tech acquired the stock of Inland Technologies, Inc., a leading molder of precision injection molded thermoplastic components for customers in the medical and commercial segments. Operating clean room molding facilities in Fontana, California and Creedmoor, North Carolina, Inland offers a wide range of services, including product and tooling design, mold fabrication, injection molding and assembly. By combining forces, Hi-Tech and Inland can offer customers integrated design, molding and assembly services for components and sub-assemblies that use both rubber and plastic parts.
Hi-Tech Group was sold in April 2008.
