Triad Technologies, LLC Announces the Acquisition of Cincinnati Hose & Fittings
Chicago, IL – February 5, 2018 - Triad Technologies, LLC (“Triad” or the “Company”), a portfolio company of Svoboda Capital Partners LLC (“SC”), is pleased to announce the acquisition of Cincinnati Hose & Fittings and its subsidiary Kentucky FluidAir (collectively “Cincinnati Hose & Fittings”). The transaction is the third add-on acquisition for Triad since SC invested in March 2015. Specific terms of the transaction were undisclosed.
Headquartered in Cincinnati, OH, Cincinnati Hose & Fittings is an authorized Parker Hannifin full-line fluid connector distributor with two ParkerStore™ locations. The company has served customers in Southern Ohio and Northern Kentucky for over 35 years.
In announcing the business combination, Triad’s President and Chief Executive Officer Doug Wissman stated, “We are delighted to be partnering with Mike and Neil Smith and their team. Our organizations have similar cultures and share an unwavering commitment to customer service. This is another important step in our strategy to build scale and to offer customers one-stop shopping for all their motion and control needs. Together we will operate one of the largest networks of ParkerStores™ in the nation with eighteen locations in all.”
Neil Smith, co-owner of Cincinnati Hose & Fittings commented “My brother, Mike, and I have enjoyed working with our father, Merle, President and Founder of Cincinnati Hose & Fittings and Kentucky FluidAir, since the inception of the company. We all believe this is a great opportunity for both companies and all our employees. It will better position us to meet the needs of our customers and will make more growth and development opportunities available to our employees as they join a much larger organization.” Mike Smith added “We are truly excited about expanding our product and service offering, and we look forward to joining the Triad team.”
About Triad Technologies, LLC
Triad Technologies, LLC is a leading Ohio-based distributor of fluid power, motion, robotic, vision, sensor, and safety products. The company is a full-service, stocking distributor for the industry’s premier brands including Parker Hannifin, SICK USA, Rethink Robotics, and many others. With 20 locations throughout Ohio, Southeast Michigan, and Northern 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 (www.triadtechnologies.com).
About Svoboda Capital Partners LLC
Svoboda Capital Partners LLC is a Chicago-based private equity firm with over $350 million of capital under management. Founded in 1998, SC identifies, invests in and helps build excellent businesses in its targeted business niches: business services, value-added distribution, and consumer products. SC typically makes investments of $10 to $20 million per company in partnership with management teams.