Tramec’s management team and financial partners complete the buyout of the majority shareholder’s stake
ELK GROVE VILLAGE, Illinois., September 23, 2021 / PRNewswire / – Tramec is pleased to announce that its management team, in partnership with Wells Fargo Strategic Capital and High Street Capital (HSC), has purchased 100% of MacLean Investment Partner’s stake in the company. The agreement positions Tramec to accelerate its growth and diversification initiatives in its main markets and beyond.
“I am proud of our management team and the strategic approach they took to complete this transaction,” said Gary Sullo, President and CEO of Tramec. “This positions our company to execute several initiatives by leveraging our core strengths in new markets and geographies.”
well Fargo A seventeen-year relationship in support of Tramec’s past and future growth strategy was instrumental in the completion of the MacLean Investment Partners share buyback. The participation of High Street Capital was essential to the completion of the transaction and will be instrumental in the achievement of Tramec’s growth plans.
Dick mcclain, an operating partner of HSC, commented: “Gary and his team have significantly grown their business over the past decade and a half through a strong commitment to their customers and an ability to bring operational solutions to market. , logistics and innovative grouping. Street Capital is delighted to partner with Tramec to accelerate its growth. “
Tramec is a manufacturer and distributor with a presence in many markets including commercial vehicles, automotive, industrial, HVAC, lawn and garden, recreational vehicles, marine, construction and agriculture under the brands Tramec Sloan, Tramec Sloan Fleet Engineers Division, Hill Fastener, Tramec Esdan Plastics, Termico Technologies, Tramec Plastics and Composites and Continental Aero. Tramec prides itself on the excellence of its manufacturing, manufacturing most of the products it sells on its sites through North America and Australia.
For information, contact Gary Sullo, Tramec, at [email protected] or 616-395-5601; Keith Cable at Wells Fargo Strategic Capital; Derek gollnitz at High Street Capital at [email protected] or 312-423-2658.
SOURCE Tramec SARL