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Red Diamond Capital and Century Park Capital Partners Acquire Hi-Tech Rubber, Inc.; Private Equity Firms Contribute Unique Resources to Success of Deal.

Publication: Business Wire
Publication Date: 03-MAY-04 		Format: Online - approximately 713 words
Delivery: Immediate Online Access

Article Excerpt
Business Editors

NEW YORK & LOS ANGELES--(BUSINESS WIRE)--May 3, 2004

Red Diamond Capital and Century Park Capital Partners, private equity firms based in New York and Los Angeles, respectively, jointly announced today their recent acquisition of Hi-Tech Rubber, Inc., a leading molder of precision elastomeric components based in Anaheim, California.

Consistent with the similar investment philosophies of Red Diamond and Century Park, Hi-Tech Rubber's current management team will remain with the company and have invested in the transaction. Ken Lester, Hi-Tech's chairman and chief executive officer, re-invested a portion of his proceeds from the sale back into the company's equity and will continue as Hi-Tech's CEO....

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