U.S. Bank, Babson Capital Finance High Road Acquisition
Private equity firm High Road Capital Partners said it has completed the acquisition of Warren, MI-based The Crown Group, a provider of coating services and solutions to the automotive, agricultural, heavy truck and other industrial end markets. High Road said it partnered with Charter Oak Equity on the transaction.
High Road said financing for the transaction was provided by U.S. Bank and Babson Capital Management. Charter Oak and Babson Capital also invested equity alongside High Road. Transaction consideration was not disclosed.
Frank Knoth, president of The Crown Group, will continue to lead the company post-closing. He and The Crown Group’s management team invested in the transaction alongside High Road.