Milwaukee-based Cleary Gull Inc. has advised Oregon, Wis.-based Trachte Inc. in its recent recapitalization.
Morgenthaler Private Equity, which is based in Cleveland and Boston, led the recapitalization of Trachte, which manufactures pre-fabricated steel buildings. Trachte has 250 employees at its five manufacturing plants and two office buildings in Oregon, and 50 employees at its Eastanollee, Ga. Facility.
“Our grandfather began manufacturing prefabricated metal buildings in 1919,” Randy and Ron Trachte said in a statement. “Over our past 40 years, we have had the privilege of working with our employees to build great relationships with customers and suppliers by delivering on our commitments. We were very selective in choosing an investment partner for Trachte and believe MPE will be a great steward for the company and its legacy.
“We couldn’t be happier with the Cleary Gull team. They helped us achieve all of our transaction objectives while ensuring that we selected the right partner for the business going forward.”
The investment figure was not disclosed, but MPE focuses on lower middle market transactions of up to $150 million.
“Trachte has developed a tremendous reputation for product quality, engineering and project management support, on-time delivery, and customer service,” said Joe Machado, partner at MPE. “On behalf of MPE, we are excited to partner with the very talented Trachte organization as we help the company continue its impressive growth.”