CHICAGO– March 07, 2008 – Dresner Partners, a leading middle-market investment bank, announced today that it served as exclusive financial advisor to Tronair, Inc., a River Capital company, in its sale to KRG Capital Partners. Specific terms of the transaction were not disclosed.
Headquartered in Holland, Ohio, Tronair is a leading manufacturer and marketer of ground support equipment for business, regional and commercial aircraft in both domestic and international markets. The company designs, manufactures and distributes over 1,000 different products including towbars, jacks, hydraulic power units, engine stands, electrical equipment, and towbarless tugs, among others. In addition, Tronair manufactures many special items required by OEM's for building aircraft.
Tronair began operations in 1973. In 2000 River Capital, an Atlanta based private investment firm, acquired Tronair and helped fuel its growth. Under River Capital, the company made two add-on acquisitions, Arvico in 2003 and JETporter in 2006. In order to serve its international customers better Tronair expanded internationally and now has sales offices and service centers in Asia and Europe.
Founded in 1973, Tronair, Inc. is a leading manufacturer and marketer of ground support equipment for business, regional, and commercial aircraft. Tronair’s branded products include towbars, jacks, hydraulic power units, engine stands, electrical equipment, and towbarless tugs, among other products. More information on Tronair, Inc. is available online at www.tronair.com.
Founded in 1983, River Capital is one of the oldest firms of its type in the Southeast and provides capital for acquisitions, management buyouts, recapitalizations and the growth capital needs of lower middle market companies, typically with revenues of less than $50 million. The firm primarily invests in light manufacturing, distribution and select service companies and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. Since inception, River Capital has invested in 35 companies, both platform and add-on acquisitions. The firm’s principals are former business owners and operators with over fifty years of operational experience. The company continues to pursue high quality investments and add-ons to its existing portfolio companies. More information on River Capital is available online at www.river-capital.com.
Founded in 1996, KRG is a Denver-based private equity firm with over $4 billion of cumulative capital either deployed or available for future investment, which includes approximately $682 million deployed since inception on behalf of equity co-investors. KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. The firm seeks investment opportunities where KRG can partner with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 32 platform companies and has completed 94 add-on acquisitions for those platforms. More information on KRG is available online at www.krgcapital.com.
Dresner Partners is a FINRA-registered, middle-market investment bank based in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the United States, including institutional private placements of debt and equity, merger & acquisitions, and valuation and strategic consulting services. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in investor and public relations. More information is available via the Internet at www.dresnerpartners.com.