In the transaction, whose amount was not disclosed, Morgenthaler partnered with the existing shareholders, including retiring President Randy Trachte and retiring VP of Sales Ron Trachte, as well as the continuing senior management team.
Going forward, Trachte will be led by incoming CEO Matt Cahill, an experienced operating executive, and VP & COO Paul Holmes, a 25-year Trachte employee.
Alliance Partners LLC provided senior debt financing to support the transaction while Hartford Investment Management Company (HIMCO) and vehicles managed by Siguler Guff & Company and its affiliates provided subordinated debt financing.
The company’s custom buildings house critical electrical components such as relay and protection controls, switchgear, battery systems, servers, and data center hardware that control and protect electrical infrastructure and equipment.
Trachte serves utilities, OEMs, and other channel partners in the power generation, energy, chemical processing, data center, and general industrial end markets.
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SOURCE Morgenthaler Private Equity