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HAWK Performance’s John Butler and Taylor Allen: HAWK was born out of the friction expertise of Wellman Friction Products in 1991, located in Medina, Ohio.
With Heisel in the fold, Hawk topped the $100 million mark in annual revenues in 1994.
The company tried again in May, following a grueling two-week road show that took company officials across the United States and to Europe to meet with prospective investors. It planned to use part of the proceeds to redeem $30 million in 12 percent senior subordinated notes issued in 1995, and spend another $1.75 million to redeem 1,733 of more than 6,000 preferred shares outstanding.
The first, the $12.1 million cash and stock purchase of Hutchinson Foundry Products company, closed in January 1997.
Nevertheless, the company posted record results at the end of 1999, with revenues improving to $187.4
Another development of note in 1999 was the appointment of former congressman and football player Jack Kemp to the board of directors.
In the early months of 2003 Hawk posted better than expected results, mostly due to sales realized through product innovation.
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