Babson Capital Provides Debt, Equity for Silver Oak’s Buy of Tranzonic

Babson Capital Management said Friday it provided debt and equity as part of Silver Oak Services Partners buy of The Tranzonic Cos. Financial terms weren’t announced. Richmond Heights, Ohio-based Tranzonic distributes maintenance, cleaning and safety products to the “away-from-home” marketplace.

PRESS RELEASE

SPRINGFIELD, Mass.–(BUSINESS WIRE)–Babson Capital Management LLC, a global investment management firm with more than $182 billion in assets under management and operations on four continents, announced today that it provided subordinated debt and made an equity investment to support Silver Oak Services Partners in its acquisition of The Tranzonic Cos.

Babson Capital was the sole provider of subordinated debt on the transaction.
Founded in 1933 and based in Richmond Heights, Ohio, Tranzonic is a leading distributor of disposable maintenance, cleaning and safety products to the “away-from-home” marketplace. Tranzonic distributes a variety of disposable sanitary and safety supplies, including industrial wipers, toilet seat covers, gloves, feminine hygiene products, air care products, restroom supplies, sorbents and other safety products. The Company goes to market through two distinct channels: Hospeco, which is a well-recognized brand in the jan-san space and which sells through distribution, and CCP, which focuses on the industrial wiper and safety market and sells direct to end-users through its field sales force.
“Silver Oak is pleased to join with Babson Capital on our investment in Tranzonic,” said Greg Barr, Managing Partner of Silver Oak. “Babson Capital’s expertise and commitment to responsive, reliable, and flexible service made it an invaluable partner on this transaction.”
“Babson Capital is excited to build on our previous relationship with Silver Oak through our participation in the Tranzonic investment,” said Michael L. Klofas, Managing Director and Head of the U.S. Mezzanine & Private Equity Group for Babson Capital. “As the incumbent lender, Babson Capital knows Tranzonic’s business and management team well, and we look forward to participating in the company’s success as Silver Oak and management implement their growth strategy in the years ahead.”
About Silver Oak Services Partners
Silver Oak Services Partners is a lower middle market private equity firm focused exclusively on service businesses. We seek to partner with exceptional management teams to build industry leading business, consumer and healthcare service companies. Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with EBITDA of $3 million to $20 million. For more information, please visitwww.silveroaksp.com.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $182.9 billion in assets under management as of June 30, 2013. Through proprietary research, analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad expertise in fixed income, equities, alternatives, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group.