FOR IMMEDIATE RELEASE – September 26, 2023
Triad Technologies, LLC (“Triad”), a leading distributor of fluid power, industrial automation and fluid conveyance products, announced that it completed the acquisition of Tech-Syn Corporation and its wholly owned subsidiaries (“Tech-Syn” or the “Company”) on March 31, 2023. Tech-Syn is a value-added distributor of seals, O-rings, hoses, fittings, and other related products sold to a wide array of industrial customers. The Company is headquartered in Bloomingdale, Illinois with additional locations in Rockford, Illinois and Milwaukee, Wisconsin. Since its founding in 1959, the Company has provided customers with exceptional customer service, high-quality product lines and unparalleled technical expertise. The combination of Triad and Tech-Syn creates a unique value-added fluid power distribution platform across the Midwest with the ability to solve complex sealing challenges for its customers.
“We are pleased to welcome the Tech-Syn team to the Triad family,” stated Greg Wissman, President and Chief Executive Officer of Vandalia, Ohio based Triad. “The strategic fit between Tech-Syn and Triad is very strong. Tech-Syn has expertise in highly engineered seals and O-Rings whereas Triad offers a broad array of complementary products across hydraulics, pneumatics, industrial automation and industrial hose. This compelling strategic alignment will allow the combined company to provide comprehensive solutions to our shared customer base, while strengthening our presence in the Illinois and Wisconsin markets.”
Gary Manning, former President and owner of Tech-Syn added, “Customers will benefit from a more diverse range of product categories, providing solutions for a wider variety of applications. Furthermore, the combination of these companies will foster a culture of growth and development for our employees. The combined company’s expanded scope and capabilities will create new opportunities for career advancement, skill development, and cross-functional collaboration.”
The acquisition of Tech-Syn is consistent with Triad’s strategy to expand its product offering and geographic presence. “Triad’s acquisition of Tech-Syn greatly enhances Triad’s ability to provide complex sealing solutions to its customers. It also strengthens Triad’s footprint throughout the Midwestern United States. Looking ahead, Triad continues to seek acquisitions that expand its product breadth and geographic reach to better serve its customers,” stated Charlie Denison, Managing Director at Shorehill Capital LLC (“Shorehill”). Triad and Shorehill partnered in 2019; since that time, Triad has successfully executed numerous organic growth initiatives and Tech-Syn represents the partnership’s third acquisition.
Terms of the transaction were not disclosed.
About Triad Technologies, LLC:
Triad Technologies, LLC is a leading Ohio-based distributor of hydraulic, pneumatic, electromechanical, filtration, sealing, and lubrication technologies. Triad is a premier full-service stocking distributor, Hydraulic Technology Center (HTC), Pneumatic Technology Center (PTC) and Automation Technology Center (ATC) of Parker Hannifin. With 33 locations throughout Ohio, Indiana, Illinois, Michigan, Wisconsin and Kentucky, Triad provides product expertise, critical application knowledge and custom solutions to its customers with an emphasis on value-added services, including: technical support, 24/7 field service, and system design, hose assembly and repair service. For additional information visit www.triadtechnologies.com.
About Shorehill Capital LLC
Shorehill Capital LLC is a Chicago-based private equity firm with a passion for creating superior companies. Shorehill is focused on making control equity investments in North American engineered industrial products, industrial services, and value-added distribution companies with EBITDA between $3 million and $15 million and add-ons of any size. Shorehill seeks opportunities with differentiated business models where its experience, network and investment management approach can have a significant impact on the performance of the business. For nearly 30 years Shorehill’s partners have worked with middle market business leaders to accelerate growth and improve operational performance through structured investment management plans. For additional information, please visit www.ShorehillCapital.com.