Tronair, Inc. Acquires JETporter, Inc.
Tronair, Inc. (“Tronair”), a River Capital portfolio company, has announced its acquisition of JETporter, Inc. (“JETporter”), which will operate as wholly owned subsidiary of Tronair. JETporter, based in Bend, Oregon, engineers, manufactures and distributes electric towbarless tugs to original equipment manufacturers, corporate aircraft owners, fixed base operators, commercial and regional airlines, governments and military organizations around the world. The purchase price was not disclosed.
Ken Greene, President and CEO, Tronair, said, “JETporter has superior products and an excellent reputation. They will complement Tronair’s product line and reputation as the world leader in ground support equipment. Our engineering team has identified additional designs that will be introduced soon to support the growing demand for towbarless tugs. The combination will allow JETporter to meet customer expectations on delivery and product support with offices and service centers in the USA, Europe and Asia.”
Tronair is one of the largest ground support equipment manufacturers. Tronair has a diverse product line to serve both domestic and international customers.
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.