Linsalata Capital Partners has sold The Tranzonic Companies, a distributor of maintenance, cleaning and safety products, to Silver Oak Service Partners. Linsalata first invested in Tranzonic in 1998. The management team of Tranzonic co-invested with Silver Oak on the transaction.
“We are excited to partner with Ken Vuylsteke and the rest of the senior management team at Tranzonic. Tranzonic has a long history and is well respected within the away-from-home marketplace. We intend to leverage the company’s strong reputation, while further investing in the product portfolio and sales force,” said Greg Barr, Managing Partner of Silver Oak. Tranzonic is actively looking for add-on acquisition opportunities.
Tranzonic is a distributor of away-from-home disposable absorbent and non-absorbent maintenance, cleaning and safety products. Products include a suite of janitorial and sanitation products, including industrial wipers, toilet seat covers, gloves, feminine hygiene products, air care products, restroom supplies, sorbents and other safety products. Tranzonic was founded in 1933 and is headquartered in Richmond Heights, OH, with distributions facilities in Knoxville, Reno, and Miami (www.tranzonic.com).
“This transaction enables Tranzonic to move forward on the next phase of the company’s development with a value-added partner and the capital resources necessary to grow our company through both organic investments in sales and marketing and product development as well as through add-on acquisitions,” said Tranzonic CEO Ken Vuylsteke, who will continue to lead the company.
Silver Oak makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $4 million to $20 million. Sectors of interest include business services, healthcare services, and consumer services. The firm recently closed its newest fund, Silver Oak Services Partners II, LP, with total commitments of $206 million. Silver Oak is based in the Chicago suburb of Evanston (www.silveroaksp.com).
Linsalata Capital Partners invests from $10 million to $50 million of equity in middle market companies in an array of industries that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. The firm is currently investing from its seventh fund with $427 million in committed equity capital. The firm was founded in 1984 and is based near Cleveland in Mayfield Heights, OH (www.linsalatacapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-18-13
