Private equity firm Silver Oak Services Partners has acquired the Tranzonic Cos.
Tranzonic, headquartered in Richmond Heights, Ohio, distributes disposable maintenance, cleaning and safety products, including toilet seat covers, gloves and air care products. Terms of the transaction were not disclosed.
Evanston, Ill.-based Silver Oak focuses on investing in service businesses in the consumer and health care sectors with Ebitda between $3 million and $20 million. The firm has invested in Altura Communication Solutions, National Distribution & Contracting and Physical Rehabilitation Network.
Babson Capital Management LLC, a Boston investment management firm with more than $182 billion in assets under management, provided subordinated debt and made an equity investment to support the deal.