Management Firm Buys Hadley Auto Transport
Hadley Auto Transport, a family-owned business started in 1931, has been sold to Hidden Creek Industries, a Minneapolis-based investment management firm with interests in a variety of automotive and truck equipment suppliers.
Onex is a publicly owned investment company with a diversified portfolio that includes a Canadian sugar producer, a motion picture studio and SkyChefs, an airline food service company.
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Hidden Creek and its equity partner, Onex Corp. of Toronto, acquired 80% of Hadley’s outstanding shares for an undisclosed amount. Some current stockholders will own the remaining shares, and existing management will remain in place.
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“We’ve been looking at doing something like this for two years to grow the company,” said President Richard B. Hadley, whose great-grandfather, J.C. Hadley, began transporting cars from the Ford assembly plant in Long Beach, Calif., to points in Arizona.
