Growth investment poised to enhance customer experience,
accelerate product development and support strategic M&A for
Keltec, a leading provider of aftermarket filtration
solutions
LOS
ANGELES, March 28, 2024 /PRNewswire/ -- Vance
Street Capital ("Vance Street"), a Los
Angeles based private equity firm, today announced it has
partnered with Keltec Technolab Inc's ("Keltec") management team to
support the business during the next chapter of its growth. Keltec
is a leading North American provider of aftermarket filtration
components for compressed air solutions. The acquisition represents
Vance Street's seventh platform investment out of Vance Street
Capital III L.P. and leverages the firm's experience in industrial
technology as well as in the aftermarket filtration consumables
space.
Headquartered in Twinsburg,
Ohio, Keltec specializes in designing, developing, and
manufacturing an extensive array of filtration solutions for
compressed air solutions across various industries, including
general industrial, pharmaceutical, aerospace, and many others.
Keltec's product offering is diverse with over 12,000 SKUs,
spanning from Air/Oil Separators to Air Filters, Oil Filters,
Coalescing Filters and Refrigerated Air Dryers, all of which are
essential in avoiding defects and extending the useful life of
compressed air systems for its customers.
Keltec, founded by the Kaiser family over 40 years ago, is a
valued partner to its global base of customers recognized for its
customer service and high quality products. As part of the
transaction, the Kaiser family is retaining a significant ownership
position in Keltec and will continue to lead the business going
forward. "I'm thrilled about this partnership as it empowers us to
invest in growth, both organically and through M&A, thereby
strengthening our market position as an aftermarket filtration
parts provider. This opportunity also allows us to maintain a
culture dedicated to surpassing the needs and expectations of our
customers," said Ed Kaiser, CEO of
Keltec. "Vance Street's track record of focusing on how to grow an
organization, investing in the right people, process and product
innovation, is a great fit for our organization."
"Vance Street is always looking to partner with successful
entrepreneurs like the Kaisers," said Nic
Janneck, Partner at Vance Street. "Over the last 40
years, the Kaisers and their team have built a highly
differentiated company. With Vance Street's additional
support and capital, Keltec will be able to invest in the business,
accelerate its new product development and continue to provide its
customers best-in-class service."
"We are excited to partner with the Kaiser family to support
Keltec's commitment to offering an extensive suite of high-quality
products to its global customer base," said Yousaf Tahir, Vice President at Vance Street.
"Vance Street's ability to leverage its experience in industrial
technology as well as the consumable filtration ecosystem makes
Keltec a great fit for us."
"Keltec is a great opportunity for Vance Street to leverage its
value-creation playbook," said Mike
Janish, Managing Partner at Vance Street. "We are honored to
be partnering with the Kaiser family during the company's exciting
next phase."
Goodwin Proctor LLP acted as legal advisor to Vance Street
Capital. Signet Capital Advisors served as financial advisor and
Brennan Manna Diamond LLP served as legal advisor to Keltec. Debt
financing for the transaction was provided by Apogem Capital. Terms
of the transaction were not disclosed.
About Vance Street Capital LLC
Vance Street Capital is a middle-market private equity firm
focused on investing in highly engineered solutions businesses
across the medical, life science, industrial technology, and
aerospace & defense sectors. For over two decades, Vance
Street's partners have worked with management teams and family
owners to accelerate revenue growth, improve operations and acquire
strategic assets for the companies in their investment portfolio.
For more information please visit: www.vancestreetcapital.com.
Media Contact:
Natalie Yates
Head of Business Development and Investor Relations
nyates@vancestreetcapital.com
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SOURCE Vance Street Capital