River Capital Sells Tronair, Inc. to KRG Capital Partners
River Capital, an Atlanta-based private investment firm, has sold Tronair, Inc. (“Tronair”) to KRG Capital Partners. Tronair, headquartered in Holland, Ohio, is a leading manufacturer and marketer of ground support equipment for business, regional and commercial aircraft in both domestic and international markets. The purchase price was not disclosed.
Jerry Wethington, managing principal at River Capital, noted, “We are extremely pleased with our investment in Tronair since acquiring the company in 2000. During our ownership, we significantly expanded the business with the acquisition of Arvico and JETporter, two manufacturers of complementary product lines. In addition, we extended the business internationally with the addition of sales offices and service centers in Europe and Asia. Tronair has a bright future as it continues to grow market share under new ownership.”
Founded in 1973, Tronair 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.
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.