Ancor Capital Partners buys Transhield


Ancor Capital Partners has acquired Elkhart, Indiana-based Transhield, a developer of protective covers for boats, vehicles and equipment during storage or transit. No financial terms were disclosed. Midwest Mezzannine Funds partnered with Ancor to provide the debt and equity financing for the transaction.

PRESS RELEASE

FORT WORTH, Texas–(BUSINESS WIRE)–Ancor Capital Partners is pleased to announce the acquisition of Transhield, Inc. based in Elkhart, Indiana. Transhield develops and engineers high-tech, advanced environmental protective and corrosion inhibiting covers for the protection of boats, vehicles and equipment during storage or transit. The company has expanded its product offering from an original focus on the marine industry to the military and industrial markets. Transhield holds multiple patents which have allowed it to become a recognized leader in the anti-corrosion market. Ancor teamed with Midwest Mezzanine Funds to provide the subordinated debt and equity for the transaction.

Raymond Kingsbury, Ancor Managing Partner, said, “Transhield is led by a strong management team who chose to reinvest with us and we are excited to partner with them as we continue to expand the markets which the company addresses.” He continued, “Corrosion protection is a growing market that is becoming increasingly important to our customer base and Transhield’s products are the most advanced in the market to protect its customers’ products and equipment.”

Jim Glick, President of Transhield, said, “The ability to team with an equity sponsor such as Ancor and Midwest Mezzanine is exciting to us, especially due to Ancor’s operational experience and their success with other portfolio companies that are similar to Transhield.” He continued, “The company is at an important inflection point in its growth and to have the expertise of these groups will help us achieve our growth initiatives.”

“The purchase of Transhield is exciting for Ancor as it is the second acquisition of a platform company for Ancor in 2014,” said Randall Keene, Managing Partner of Ancor. He continued, “This year we have acquired two platform companies, Transhield and Identity Group, sold one platform, Carex Health Brands, and have strengthened a number of our other portfolio companies.” Keene added, “2014 is shaping up to be one of Ancor’s best years and we appreciate the confidence our investors and management teams have placed in us as we continue to build our firm.”

Ancor Capital Partners, based in Fort Worth, Texas, is an operations-oriented private equity firm focused on lower middle-market manufacturing and distribution companies with EBITDA of $5-$15 million. Extensive operational experience gives the Ancor team a unique understanding of the critical business issues faced by lower middle-market companies. Ancor’s proven track record includes 35 acquisitions to date in health care, consumer and other industries.

Chicago-based Midwest Mezzanine is one of the oldest and most experienced private equity firms that focus on lower middle-market mezzanine investments, including second lien and subordinated debt as well as equity co-investments. Since 1992, Midwest has invested in over 80 companies throughout the United States across a wide range of industries. The firm’s investment team has over 100 years of experience as lenders and investors in middle market companies and focuses on companies generating EBITDA of $3 to $15 million.

Do you want exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more? Get your FREE trial to Buyouts! Or subscribe now!