Laron Incorporated Acquired by Ohio Transmission Corporation
January 2020 – England & Company served as the exclusive financial advisor to Laron Incorporated (“Laron”) in its sale to Ohio Transmission Corporation (“OTC”), a portfolio company of Genstar Capital.
Laron is a leading provider of mechanical and electric motor repair and engineering services in the Southwestern United States. Laron’s headquarters in Kingman, Arizona, houses more than 140,000 square feet of shop space, with large-scale machining, fabrication and repair capabilities and a field services office. Laron also has repair and field service locations in Phoenix, Arizona, and Salt Lake City, Utah, and a sales and field service office in Tucson, Arizona.
“This acquisition is an important part of our rapidly evolving repair and engineering services capabilities,” said Matt Piatt, Chief Operating Officer of OTC. “Along with the recent acquisition of Keller Electrical, the addition of Laron further enhances our overall service offering and expands our regional footprint in the Southwest.”
Laron will continue to operate under the Laron brand and with current local management, including Glenn Thoroughman, CEO; Larry Tree, President; John Hansen, COO; Gary Maclay, CFO; and a strong team of general managers already in place. Laron will operate as a division of OTP Industrial Solutions and is expected to provide OTP with a foothold and visibility into a whole new dimension of industrial service.
“We are very pleased to have partnered with England & Company for this transaction,” said Glenn Thoroughman, CEO of Laron. “England’s team was instrumental in helping Laron find the right partner, and they were an integral part of negotiating the terms of the transaction. England provided solid advice and insight to our management team throughout the process.”
Laron, founded in 1975, is a leader in machining, fabrication, millwright services, electrical equipment repair, and predictive maintenance services. Headquartered in Kingman, Arizona, Laron serves the mining, manufacturing, power generation, gas transmission, and construction industries across the Southwestern United States and provides in-house and field services from four strategically located facilities in Arizona and Utah.
About Ohio Transmission Corporation
Ohio Transmission Corporation is a leading technical distributor of highly engineered products including motion control, pumps, finishing products, robotics, motors and air compressors. OTC serves over 13,000 customers across diverse end-markets, providing highly technical sales consultation and aftermarket repair and services. Founded in 1963 and headquartered in Columbus, Ohio, OTC is backed by Genstar Capital, a leading private equity firm.
About England & Company
With offices in Houston, New York, and Washington, DC, England & Company is an independent investment bank dedicated to serving middle-market companies. Since its founding in 2003, the firm has provided comprehensive advice on mergers and acquisitions, private capital raising, financial restructuring, fairness opinions, and other strategic initiatives to the executive teams, boards of directors, and financial sponsors of public and private companies.
Investment banking services are provided by England Securities LLC, a registered broker-dealer and member of FINRA and SIPC.