Trantech Radiator Products Inc., an Edgefield, S.C.-based maker of radiators used for cooling liquid-filled transformers in the electric power industry, has sold $10.7 million of preferred stock and subordinated debt to Key Principal Partners.
Key Principal Partners Corp. (KPP), a $1 billion private equity and mezzanine firm that makes both non-control and control investments in growing middle-market companies, announced a $10.7 million investment in Trantech Radiator Products, Inc. (Trantech). KPP’s investment was in the form of subordinated debt and preferred stock. The investment will be used to support continued growth and complete a facility automation project.
Trantech, headquartered in Edgefield, South Carolina, is the leading U.S. manufacturer of specialty radiators and related products used for cooling liquid-filled transformers in the electric power industry.
“Trantech’s diverse product suite, coupled with its superior engineering capabilities, puts the company in an excellent position,” said Cindy Babitt, a Partner at KPP. “We look forward to helping Trantech meet its future growth objectives.”
“Our long-standing reputation as a customer-focused manufacturer is based on our ability to anticipate our clients’ needs and provide products and services that exceed their expectations,” said Paul Cooper, President of Trantech. “KPP’s investment will give us the opportunity to increase efficiencies and continue providing the best products and highest level of service to our customers.”
About Key Principal Partners Corp.
Key Principal Partners Corp.® (“KPP”) is a $1 billion private equity and mezzanine firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich and San Francisco. For additional information, please visit www.keyprincipalpartners.com.
Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $101 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.