On Aug. 8, LDR Growth Partners announced it had acquired two U.S. Midwest heat exchanger manufacturers: Cincinnati Radiator Inc. and Ohio Heat Transfer Ltd.
The companies are both manufacturers of heavy-duty heat exchangers, radiators and related air, oil and hydraulic coolers.
Financial terms of the private transaction were not announced.
“LDR believes foremost in the caliber of the teams and systems at Cincy Radiator and Ohio Heat Transfer as established under their founders’ leadership,” said Richard Sexton, partner at LDR. “Since inception, each of these businesses has cultivated an excellent standard of service and value for their customers, as evidenced by their long-standing blue-chip customer bases. For any boutique manufacturing operation, this is a huge testament to the company’s ability to execute on product quality, timely delivery and customer service. Their history to-date really sets the stage for expansion.”
Prasenjit Ray, general manager of CRI and OHT, said in a statement: “We as a team are excited and confident with LDR supporting our next phase to continue what has been built at Cincy Radiator and Ohio Heat Transfer. LDR shares our passion for the industry and has the know-how to shift our growth into high gear while adding even more value to our customers. Excitement for the future is high since the transition announcement a few weeks ago.”