LDR Growth Partners acquires Cincinnati Radiator and Ohio Heat Transfer
LDR Growth Partners has acquired Cincinnati Radiator Inc. and Ohio Heat Transfer Ltd.
CRI and OHT are U.S.-based manufacturers of heavy-duty heat exchangers, radiators, and related air, oil, and hydraulic coolers.
"LDR believes foremost in the caliber of the teams and systems at Cincy Radiator and Ohio Heat Transfer as established under their founders' leadership," said Richard Sexton, partner at LDR. "Since inception, each of these businesses has cultivated an excellent standard of service and value for their customers, as evidenced by their long-standing blue-chip customer bases. For any boutique manufacturing operation, this is a huge testament to the company's ability to execute on product quality, timely delivery and customer service. Their history to-date really sets the stage for expansion."
"We as a team are excited and confident with LDR 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 shift our growth into high gear while adding even more value to our customers. Excitement for the future is high since the transition announcement a few weeks ago."
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.
"We are confident in our decision for LDR Growth Partners to continue our legacy and vision for Cincy Radiator and Ohio Heat Transfer throughout its next phase of ownership," said Mark Epure, co-founder of CRI and OHT. "LDR shares our passion for North American small business and has a track record of strong results in industrial markets. As founders, we appreciate the attention and care the LDR team has shown throughout the process and look forward to the future."
LDR Growth Partners supports growth-oriented businesses, management teams, and entrepreneurs with equity capital and precision support to scale operations and maximize returns under a spirit of market leadership, creativity, and innovation. LDR is led by a five-person cross-functional leadership team, and was founded in 2011 by U.S. Army Officers. The company has offices in Stamford, Connecticut, Houston and Washington DC.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
