Trantech Radiator Products Has Been Acquired by Main Street Capital
HOUSTON, June 17, 2019 -- GulfStar Group ("GulfStar") is pleased to announce the acquisition of Trantech Radiator Products, Inc. ("Trantech" or the "Company"), a portfolio company of Industrial Opportunity Partners ("IOP"), by Main Street Capital Corporation ("Main Street"). GulfStar served as the exclusive financial advisor to Trantech throughout the transaction, which closed on May 31, 2019.
Trantech is a designer, manufacturer and supplier of radiators and other cooling systems for transformers used in the generation, transmission and distribution of electric power. The Company's products are sold to transformer original equipment manufacturers as well as utility and industrial aftermarket customers for repair and replacement applications.
"Trantech's leadership team under President Greg Horton developed and delivered on a business plan that demonstrates how a domestic manufacturer can compete in a global market through a focus on responsiveness and superior customer service," said Bryan Frederickson, managing director at GulfStar. "IOP supported numerous process improvements that better enabled the Company to capitalize on these opportunities and positioned it well for continued growth under Main Street's ownership. Everyone involved at Trantech and IOP was a pleasure to work with, and we wish Main Street well with its latest investment."
IOP Director Chris Willis observed that "GulfStar's understanding of Trantech's business and attention to detail helped drive a favorable outcome in the transaction. IOP is appreciative of GulfStar's efforts and guidance throughout the process."
Bryan Frederickson led the GulfStar team alongside Senior Vice President Ben Stanton, Associate Tyler Tribble and Analyst Maclean Martin.
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About Industrial Opportunity Partners
IOP, an Evanston, Illinois-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.
About Main Street Capital Corporation
Main Street is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 680 assignments in 35 states and 16 foreign countries across a variety of industries.