Norwest Mezzanine Partners Supports Frontenac Company’s Investment in Ohio Transmission Corporation
September 23, 2013
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) today announced that it has contributed subordinated debt and equity to support Frontenac Company’s investment in Ohio Transmission Corporation (OTC), a leading distributor of motion control and related products and services serving a wide range of industrial and commercial end-markets. The transaction closed on July 18, 2013.
Founded in 1963 and based in Columbus, OH, Ohio Transmission has grown to operate as one of the largest industrial distributors in the United States. With a broad portfolio of industrial products offered to more than 13,000 customers, Ohio Transmission distributes to a variety of industrial and commercial end markets including: Power and Utility, Steel, Automotive, Food and Beverage, OEM, and General Industrial. The company’s principal product offerings include pumps, bearings, power transmission equipment and fluid power solutions, as well as compressed air products and related services.
John Hogan, partner at NMP, stated, “This transaction marks the third time we’ve invested alongside Frontenac. We look forward to working with both OTC and the Frontenac team to help support the company’s continued growth initiatives and momentum.”
“NMP continues to be a strong investment partner for us, and they demonstrated tremendous flexibility and support throughout the entire transaction process,” stated Ron Kuehl of Frontenac.
About Frontenac Company
Founded in 1971, Frontenac Company is a Chicago-based private investment firm currently investing capital from its tenth equity fund. Frontenac invests in high-quality, closely-held companies and partners with proven operating executives to grow these successful, mid-sized companies. For more information, please visit www.frontenac.com.