Barings Supports Goldner Hawn in Recapitalization of Trystar, LLC
Oct 25, 2018
CHARLOTTE, N.C. (October 25, 2018) – Barings, one of the world’s leading asset management firms, announced today that it has served as a lead agent on a senior secured credit facility and an equity co-investment to support Goldner Hawn LP (Goldner Hawn) in its recapitalization of Trystar, a niche manufacturer of power distribution and connectivity products for the mobile power rental, industrial, commercial utility, and emergency back-up markets. Financial terms were not disclosed.
The financing of Trystar represents a unique opportunity for Barings to tap into the growing demand for mobile power utilization and critical backup power needs driven by an aging power grid and growing financial toll of natural disasters. Trystar’s unique manufacturing capabilities cater to a variety of industries including disaster recovery, data centers, utilities, special events, construction, hospitals, nursing homes, grocery stores, manufacturing facilities, oil and gas, and retail locations.
“We appreciate Barings’ support over the last two decades, including their recent financing assistance in our recapitalization of Trystar,” said Andrew Tomashek, Principal at Goldner Hawn. “At Goldner Hawn, we continue to look for ways to partner with business owners to build value and are looking forward to supporting Trystar and its continued success.”
“All industries are beginning to recognize the critical need for backup power as a means to effectively run their operations in emergencies and natural disaster situations,” said Steve Jarvis, Managing Director for Barings Private Finance. “Trystar’s ability to customize electrical power distribution products to each of their client’s individual needs and its successful management team make it a compelling investment opportunity. We are confident in Trystar’s continued growth and appreciate Goldner Hawn’s long-standing partnership in the completion of this transaction.”
With over 600 investment professionals, including more than 70 dedicated solely to private finance, Barings leverages its global presence and local expertise to source private credit investments in developed markets worldwide. This global sourcing network, coupled with a diverse portfolio of platform companies, provides Barings with ongoing opportunities to finance middle market transactions including new platform investments, add-on acquisitions and recapitalizations across the U.S., Europe and Asia.
Barings is a $310+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of September 30, 2018
About Goldner Hawn LP
Founded in 1989, Goldner Hawn is a private equity firm specializing in equity investments in management buyouts, industry consolidation, growth capital and recapitalizations. Goldner Hawn invests in seasoned, middle-market companies that have capable management teams, distinct market advantages, and clear growth potential. Since its founding, Goldner Hawn has raised over $900 million in committed capital and completed 42 platform investments. Trystar represents the first investment in the seventh pool of capital that has been raised by the principals of Goldner Hawn. The firm is based in Minneapolis, Minnesota. For additional information, visit www.ghjm.com.
Founded in 1991, Trystar is a family-owned, customer-focused manufacturer of power distribution equipment, cable products and generator docking stations. Whether stock or custom, every Trystar product is engineered and built to last in the United States, at a state-of-the-art manufacturing facility in Faribault, Minnesota. Trystar services a wide range of industries like disaster recovery, data centers, utilities, special events, construction, hospitals, nursing homes, grocery stores, manufacturing facilities, oil and gas, and retail locations. Trystar is also a leader in generator docking stations for hospitals, schools, offices, restaurants, hotels and retailers. For more information, please visit www.trystar.com.
300 South Tryon Street
Charlotte, NC 28202