Applied Process Inc., Livonia, Mich., has taken on a majority-interest equity partner, High Street Capital of Chicago. AP provides austemper-focused technologies and services. “Austempering offers our customers a cost effective way to obtain stronger, lighter and less expensive parts,” says John Wagner, AP’s President. “With High Street Capital as our new capital partner, we have the added resources to expand our capabilities.”
In 1984, Applied Process Inc. was incorporated as a stand-alone division of Atmosphere Group in Wixom, Michigan, with John R. Keough as President. In 1993 Mr. Keough spun AP out of Atmosphere Group., and it has since expanded into AP Westshore in Oshkosh, and recently acquired the Monster Parts plant in Oshkosh. AP also established plants and licensees in Australia, England, Canada, China, and India.
High Street Capital is investing in AP because they believe in the management, the people, and the business. Dick McClain, (an HSC Principal) says that, “The High Street Capital partners are looking forward to working with the world-class leadership team and employees at AP to continue AP’s mission ‘to grow the pie for austempering’.”
