Cincinnati Radiator, Ohio Heat Transfer acquired by investment company
CINCINNATI and COLUMBUS, Ohio – LDR Growth Partners announced the acquisition of the businesses of Cincinnati Radiator Inc. and Ohio Heat Transfer Ltd. in a private transaction that closed on August 1.
Both CRI and OHT are leading US manufacturers of heat exchangers, radiators, and related air, oil, and hydraulic coolers. Since their inception in 1994 and 2003 in the heart of the Midwest, the companies have created an impeccable track record in quickly manufacturing and delivering their custom industrial products in critical situations for customers in agriculture, earthmoving, energy, forestry, water and transport. target markets.
“LDR believes first and foremost in the caliber of the teams and systems at Cincy Radiator and Ohio Heat Transfer, as established under the leadership of their founders,” said Richard Sexton, Partner at LDR. “Since their inception, each of these companies has cultivated an excellent level of service and value for their customers, as evidenced by their long-standing, blue-chip customer base. For any boutique manufacturing operation, this is a huge testament to the company’s ability to execute on product quality, prompt delivery and customer service.Their history to date really paves the way for expansion.
“As a team, we are thrilled and confident that LDR is supporting our next phase to continue what has been built at Cincy Radiator and Ohio Heat Transfer,” said Prasenjit Ray, General Manager of CRI and OHT. “LDR shares our passion for the industry and has the know-how to accelerate our growth while adding even more value to our customers. Excitement for the future has been high since the announcement of the transition a few years ago. weeks.”
The original owners founded CRI in 1994 and OHT in 2003 to be market champions of high quality manufacturing standards and best in class customer service. The two companies lead the heat exchanger and radiator manufacturing market in terms of delivery time, which has attracted loyal blue-chip OEM partners. In addition to robust operational processes, the speed of delivery aspects of the business have been further supported by domestic sourcing of most input components, which fits well with the North American market demand for “near -shoring” as supply chain challenges continue in industrial markets. . LDR looks forward to driving value enhancements for existing and potential customer bases and scaling the business through vertical integration and production capacity expansion, while maintaining the businesses core competency in competitive delivery times for all offers.
“We are confident in our decision for LDR Growth Partners to continue our legacy and vision for Cincy Radiator and Ohio Heat Transfer through its next phase of ownership,” said Mark Epure, co-founder of CRI and OHT. “LDR shares our passion for small North American businesses and is showing strong results in industrial markets. As founders, we appreciate the attention and care that the LDR team has shown throughout the process and we look to the future. »
LDR focuses on leading investor groups in the acquisition and growth of unique, cash flow-generating businesses in the manufacturing, industrials and transportation sectors. The company currently owns and operates Whitman Controls, a 50-year-old manufacturer of process automation controls with major multinational customers in a range of industries, and Mustang Motorcycle Products LLC, a world-renowned manufacturer of seats and accessories. custom and aftermarket motorcycles.
“At LDR, our approach is to bring growth capability and leadership to scale-ready companies in a methodical way that complements strong management teams while identifying areas of new value creation,” said Sexton. . “We are ready to invest more in the people, technology and equipment needed by CRI and OHT customers nationally and internationally.”