Daily News: July 19, 2013

Babson Capital Supports Tranzonic Sale to Silver Oak

Babson Capital Management announced that it provided subordinated debt and made an equity investment to support Silver Oak Services Partners in its acquisition of The Tranzonic Cos. Babson Capital was the sole provider of subordinated debt on the transaction.

Founded in 1933 and based in Richmond Heights, OH, Tranzonic is a distributor of disposable maintenance, cleaning and safety products to the “away-from-home” marketplace. Tranzonic distributes a variety of disposable sanitary and safety supplies, including industrial wipers, toilet seat covers, gloves, feminine hygiene products, air care products, restroom supplies, sorbents and other safety products.

“Silver Oak is pleased to join with Babson Capital on our investment in Tranzonic,” said Greg Barr, managing partner of Silver Oak. “Babson Capital’s expertise and commitment to responsive, reliable, and flexible service made it an invaluable partner on this transaction.”

“Babson Capital is excited to build on our previous relationship with Silver Oak through our participation in the Tranzonic investment,” said Michael L. Klofas, managing director and head of the U.S. Mezzanine & Private Equity Group for Babson Capital. “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.”

Silver Oak Services Partners is a lower middle-market private equity firm focused exclusively on service businesses.

Babson Capital Management and its subsidiaries serve institutional investors around the globe.