PE company invests in distributor Summit Hydraulics
OAK BROOK, IL – North Branch Capital announced on September 29 that it has invested in Summit Hydraulics.
Based in Phoenix, Summit is a designer and distributor of aftermarket hydraulic kits and components for the agricultural and construction end markets, among others.
“Summit has built a high growth e-commerce platform selling custom hydraulic components, kits and solutions to industrial markets. The company has become the leading and most trusted brand in this market with a comprehensive product offering, an educational sales approach and quick turnaround capabilities, ”said Nick Johansson, Director of North Branch.
“North Branch’s growth-oriented mindset and track record of developing industrial distribution companies is a perfect fit for Summit,” said Tony Kotula, Founder and Chairman of Summit. “North Branch’s expertise in product sourcing, inventory management and logistics will contribute to Summit’s next phase of growth. We are excited about the future and the opportunity that lies ahead.
First American Bank provided a senior working capital line of credit and term loan facility. Katten Muchin Rosenman LLP acted as legal counsel to North Branch in connection with the transaction. Website Closers acted as the exclusive financial advisor to the company.
The transaction closed on September 21 and marks North Branch’s 21st transaction since its launch in 2014.
North Branch Capital is a lower middle market private equity firm, based in Oak Brook, Ill., With a long history of investing and partnering with management teams in industrial firms. We specifically target companies that lead with engineering excellence or value-added services to solve complex customer problems.