Latest News on KRG Capital
The Investment is the 1st Platform Company in KRG’s Fund IV 888 DENVER, CO (March 17, 2008)
KRG Capital Partners (KRG), a Denver-based private equity firm, announced that it has completed a control investment in Tronair, Inc. (Tronair). Tronair, based in Holland, OH, is a leading manufacturer and marketer of ground support equipment for business, regional and commercial aircraft. The Tronair acquisition represents the 1st platform company for KRG’s $1.96 billion Fund IV and the 32nd platform company since KRG’s inception.
“We are very excited to be partnering with the management team at Tronair” noted Steve Neumann, Managing Director, of KRG Capital. “Our objective is to build upon Tronair’s reputation as a trusted manufacturer of premium aviation ground support equipment by expanding our product offering both organically as well as through strategic acquisitions.
Despite the challenging credit environment, the transaction received strong support … Read More »
DENVER, CO (March 12, 2008) — KRG Capital Partners (KRG), a Denver-based private equity firm, announced that it has completed the refinancing of the bridge provided by KRG in connection with its investment in Tri-County Petroleum Inc., (Tri-County or TCP) a leading specialty distributor of industrial and commercial lubricants. The original investment in TCP closed in December 2007 at which time KRG bridged the entire consideration with the fund’s capital to provide an expedited and certain close for TCP’s shareholders.
Immediately following the closing, KRG and the TCP management team worked with KRG’s relationship lenders to refinance the bridge with permanent financing. The senior facility was led by GMAC Commercial Finance, with three additional participants, and the mezzanine facility was led by Golub Capital. The lenders demonstrated significant support for the TCP management team and the company’s vision for future growth … Read More »
The Investment is the 10th Platform Company in KRG’s Fund III
DENVER, CO (February 26, 2008)—KRG Capital Partners (KRG), a Denver-based private equity firm, announced that it has completed a control investment in Universal Ensco, Inc. (Universal) and Pegasus International, Inc. (Pegasus) (combined, the Company). Universal is a leading provider of engineering, project management, survey, and inspection services related to onshore gas, oil and liquid product transportation systems. Pegasus is also a rapidly growing provider of engineering and project management services to the oil and gas industry with a focus on subsea and offshore projects in both domestic (Gulf of Mexico) and international markets. The Universal and Pegasus acquisitions represent the 10th platform company for KRG’s $715 million Fund III and the 31st platform since KRG’s inception. Management of both Universal and Pegasus will continue to be significant owners in the … Read More »
Acquisition represents 9th Platform for KRG’s Fund III
DENVER, CO (January 8, 2008)—KRG Capital Partners (KRG), a Denver-based private equity firm, announced that it has completed an investment in Tri-County Petroleum Inc., (Tri-County or TCP) a leading specialty distributor of industrial and commercial lubricants. KRG completed the acquisition of TCP by bridging the entire transaction with KRG’s fund capital and will be completing the debt financing of the Company post closing. TCP is the 9th platform company for KRG’s $715 million Fund III.
“We are very excited to be partnering with the management team at Tri-County to support the growth of this great company” noted Ted Nark, Managing Director, of KRG Capital. “We are very impressed with Tri-County’s focus on customer service and the longstanding partnerships the Company has established with its major suppliers.”
Stew Fisher, Managing Director of KRG Capital added, “We … Read More »
Transaction with Arcapita, Inc. Affiliate Valued at $369 million
Denver, CO (November 12, 2007) – KRG Capital Partners (“KRG”), a Denver-based buyout firm, completed its previously announced sale of Varel International, (“Varel”) to an affiliate of Atlanta-based private equity firm Arcapita, Inc., (“Arcapita”). The transaction is valued at approximately $369 million and closed on November 5, 2007. Varel is the world’s fastest growing manufacturer of drill bits for the oil and gas, and mining and industrial industries.
Headquartered in Carrollton, Texas, Varel produces polycrystalline diamond compact and roller cone bits for the oil and gas drill bit market, as well as roller cone bits for other mining and industrial applications. With operations and sales offices in 41 countries, Varel serves a broad range of national and multi-national oil and gas companies and generates 50 percent of its revenue outside North America.
“Varel’s management … Read More »
March 5, 2007 – The Frank Gates Companies and Attenta announced today the two national risk management service companies have merged. With 61 and 42 years in the industry respectively, the combined company has 100+ years of experience in risk management.
“Our combined senior management leadership at these two companies has extraordinary, long-term market knowledge and insight,” said Frank Vidrik, newly named President and CEO of the merged company, formerly President of Attenta. “Our expertise, exclusive technology and innovative, outcome-based service delivery model will create superior value for our clients.”
The Frank Gates Companies, based in Columbus, Ohio, employs over 500 associates in 38 offices serving 50 states. For 61 years, Frank Gates has provided risk management consulting and cost-control programs in the areas of workers’ compensation, auto/general liability and property claims, alternative risk financing, captive services and risk management software.
Attenta, based … Read More »