Babson Capital Management provided subordinated loans and equity investment enabling Silver Oak Services to successfully purchase The Tranzonic Cos.
Tranzonic is a distributor of cleaning and safety products.
Michael L. Klofas, managing director of the US Mezzanine & Private Equity Group of Babson Capital, said in a statement they have a good relationship with Silver Oak and their participation in the latest transaction is a testament to that.
"As the incumbent lender, Babson Capital knows Tranzonic's business and management team well, and we look forward to participating in the company's success as Silver Oak and management implement their growth strategy in the years ahead," he said.
Babson Capital is an investment management firm with reach spanning four continents. The companies under its management and operation have a total asset of US $182 billion. Silver Oaks, meanwhile, is a private equity firm that is focused on companies in the services industry with gross earnings from between US $3 and US $20 million.
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