December 4, 2010 — Yukon Partners (Yukon) announced today that it has completed an investment in Tronair, Inc., a Holland, OH based ground support equipment (GSE) manufacturer. The transaction closed on December 3, 2010. Yukon supported KRG Capital Partners, a middle market private equity firm, in the transaction.
A recognized brand name, Tronair’s products can be found in nearly all of the 4,500 Fixed Based Operations (“FBOs”) and maintenance, repair and overhaul (“MRO”) centers, all major aircraft Original Equipment Manufacturer (“OEM”) manufacturing facilities, and virtually every single OEM service center location around the globe. The Company?s products are known for quality, dependability, and ease of use.
Steve Neumann, a Managing Director at KRG, stated “We are pleased to be working with the Yukon Partners team again. Their desire to support KRG on the recapitalization of Tronair was evidenced by their willingness to commit themselves to a deep understanding of the business and the industry through their thorough due diligence approach.”
When discussing the investment in Tronair, Bill Dietz, a Managing Partner at Yukon, stated “We are excited about the opportunity to support KRG and management in the recapitalization of Tronair. Tronair is a true industry leader and its best-in-class product offering, supplemented with unparalleled customer service, is reflected in the discipline of its excellent management team. KRG and management have formed a unique strategic partnership that continues to drive value, and we are excited to be a part of it.”
Mr. Dietz also discussed Yukon’s relationship with KRG, stating that “Yukon has partnered with KRG on several transactions historically, and regard them as a premier middle market sponsor that provides uncompromising investment stewardship and values all relationships. We appreciate the strength of our relationship with KRG and are proud to support them in this investment.”
About Yukon Partners
Yukon Partners is a mezzanine finance firm dedicated to serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million. The transactions in which Yukon invests include Buyouts, Growth and Platform Strategies, Recapitalizations, Mergers/Acquisitions, Public to Private Buyouts, and Refinancings.
Tronair (www.tronair.com) is a leading designer, manufacturer and distributor for 21 different product lines and over 1,000 products for the Ground Support Equipment industry for business, regional/commercial and military aircraft. The Company’s products are designed to support over 450 aircraft models designed by more than 40 OEMs of fixed-wing aircraft (jets and general aviation) and rotorcraft (helicopters). Tronair products are known for quality, dependability, and ease of use. Tronair’s products can be found in nearly all of the 4,500 FBOs and MRO centers, all major aircraft OEM manufacturing facilities, and virtually every OEM service center location around the globe.
Founded in 1996, KRG is a Denver-based private equity firm with over $5 billion of capital either deployed or available for future investment, which includes approximately $960 million deployed since inception on behalf of equity co-investors. KRG specializes in investing in customer-focused organizations that offer unique capabilities. The firm seeks investment opportunities where KRG can work in concert 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 40 platform companies and has completed 112 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.
For more information, please contact:
William L. Dietz