High Street Capital (HSC) has made an investment in Tramec alongside Wells Fargo Strategic Capital in support of a recapitalisation led by Tramec’s senior management team.
HSC’s investing and operating personnel will be working closely with management to drive organic revenue growth, introduce new markets and products to the Company’s sales mix, and maintain operational excellence and a culture of continuous improvement.
Tramec, headquartered in Iola, KS with production facilities located in Galion, OH; Holland and Muskegon, MI; Alsip, Elk Grove Village, and Rock Falls, IL; Wellington, KS; and Melbourne, Australia, manufactures and distributes engineered components primarily to the heavy-duty tractor and trailer OEM and aftermarket sales channels in the US.
This represents HSC’s sixth platform investment for Fund V.
Derek Gollnitz, an HSC investing Vice President, says: “Tramec has emerged in the past decade as a leader in its categories through a combination of relentless dedication to its customers, effective and knowledgeable operational oversight, and staying ahead of market trends and disruptions to offer best-in-class solutions to both OEM and aftermarket channels. We are thrilled to be joining the management team’s investment in the business and look forward to continuing Tramec’s impressive growth trajectory.”
Gary Sullo, President and CEO of Tramec, adds: “High Street Capital’s close operational focus, deliberate approach to its investments, and relevant track record helped convince us that HSC is an ideal partner for us in our recapitalisation of the Company. HSC was a pleasure to work with in executing the transaction and jointly developing an operating plan to drive success for all stakeholders.”
