High Street Capital (or “HSC”), alongside Wells Fargo Strategic Capital (“WFSC”), is pleased to announce that its portfolio company Tramec (www.Tramec.com) has completed the acquisition of Johnson Welded Products (or “JWP”) (www.JWP-Inc.com), an Urbana, OH-based designer and manufacturer of premium steel and aluminum air reservoirs, ping tanks, purge tanks, and de-aeration tanks, all with customizable configurations, primarily for original equipment manufacturers of heavy-duty tractors. The transaction marks Tramec’s fourth add-on acquisition with HSC and WFSC’s support since Tramec’s management-led recapitalization in September 2021.
JWP, an industry leader and innovator in the air tank category since its founding in 1970, will be integrated into Tramec’s Commercial Vehicle business, broadening Tramec’s product offering in the heavy-duty market and presenting opportunities for cross-selling and continued operational improvements and capacity growth at JWP’s location. Tramec will continue selling under the JWP name.
“Tramec is thrilled to welcome Johnson Welded Products to our family of companies. We look forward to honoring the Johnson family’s remarkable legacy and continuing JWP’s longstanding commitments to its community and employees,” said Gary Sullo, President and CEO of Tramec. Derek Gollnitz, Principal of High Street Capital, added, “HSC was excited to support this acquisition due to numerous clear synergies available from the combination, as JWP can leverage Tramec’s deep sales and operating resources to accelerate growth. We envision this partnership being a key value driver for Tramec and JWP’s stakeholders going forward.”
Please contact Derek Gollnitz (312.423.2658 or derek@highstreetcapital.com) with any questions or related opportunities that might be a fit for Tramec.
HSC is also seeking other new platform opportunities in the areas of outsourced business services, niche manufacturing, and value-added distribution. Please contact us for businesses with revenues between $10 million and $150 million where our capital, experience, and ideas could be used to leverage management’s capabilities to drive future growth.
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