Ohio Transmission Corporation, a leading distributor of industrial equipment and provider of related repair services, today announced that it has received an investment from private investor Frontenac Company. Current shareholders and management will retain significant equity ownership positions, and the existing management team, led by CEO Phil Derrow, will continue to manage the day‐to‐day operations of the business. Terms of the private investment were not disclosed.
Founded in 1963, Ohio Transmission distributes a broad portfolio of industrial products to more than 13,000 customers in a variety of industrial and commercial end markets. The company’s principal product offerings include pumps, bearings, power transmission equipment and fluid power solutions, as well as compressed air products (compressors and ancillary products), and related services.
“Over the past five years Ohio Transmission has grown 100%―some of it organic and some through acquisitions of similar companies. There are even more opportunities available to us and our partnership with Frontenac Company will give us the additional resources and capabilities to continue our aggressive growth path while delivering and continually improving the value we provide to our customers, our suppliers and our associates,” said Derrow. “We have found the perfect partner in Frontenac, which has a rich history of providing solutions to family‐owned businesses and a track record of supporting successful growth of enterprises like ours. This presents a huge opportunity to bring our unique value proposition to even more customers and markets and create career growth for our 500 associates.”
“We believe the products and the services Ohio Transmission provides to its customers and suppliers set it apart in the industry, and have driven impressive growth in the company’s 50 year history,” said Ron Kuehl, Principal at Frontenac Company, which was founded in 1971 and is based in Chicago. “We look forward to working with Phil and the leadership team as we invest in the business to grow and further enhance service to customers.”
About Ohio Transmission Corporation
With 18 facilities located primarily in the Midwest and its headquarters located in Columbus, OH, Ohio Transmission Corporation distributes a broad portfolio of industrial products to a diverse group of more than 13,000 end customers. Ohio Transmission is organized by product category into two business units, OTP Industrial Solutions, which also includes St. Louis based Industrial Process Equipment Group, and Air Technologies. OTP Industrial Solutions’ principal product offerings include pumps, bearings, power transmission equipment and fluid power solutions, and Air Technologies specializes in compressed air products (compressors and ancillary products), and services.
For more information, please visit:
www.otpnet.com
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About Frontenac Company
Frontenac Company, based in Chicago, IL, and founded in 1971, is a private equity firm with a long and successful history of investing in privately held, operator‐owned businesses. The firm works with proven executives to grow successful mid‐sized companies. This approach is built upon partnering with strong businesses and management teams and complementing the current team with outside talent that has outstanding industry knowledge and a strong performance record.
For more information, please visit:
www.frontenac.com
