Quazar Capital Corporation is pleased to announce the successful sale of TC/American Monorail Systems, Inc. (TC/American Monorail Systems), a wholly owned subsidiary of TC/American Monorail Inc., to TC/American Crane Company, a new entity formed by Orion Financial Corp. and Stewart Capital Partners. TC/American Monorail Systems, based in St. Michael, Minnesota, is the industry leader in under-running crane and monorail systems utilizing “patented track” rail. This transaction demonstrates Quazar Capital’s expertise in the Industrial Manufacturing Industry and our strong relationships in the Midwest.
TC/American Monorail Systems is a consolidation of Twin City Monorail, American Monorail, and Spanmaster. Lague Enterprises, Inc., a Minneapolis based holding company, first purchased Twin City Monorail (1982), followed by American Monorail (1986) and Spanmaster (1990) to form TC/American Monorail Systems. Today, the company produces overhead crane systems for production facilities throughout the United States and sells to some of the most venerable manufacturers in the world. TC/American has relied upon its talented and experienced workforce, with many employees tenured at 20 years or more, to produce the highest quality monorail in the industry.
The Shareholders, after twenty years of successful growth, made a strategic decision to divest TC/American at this time. When the decision was made to hire a Merger and Acquisition Advisor, the Shareholders chose Quazar as their M&A Advisor primarily due to Quazar’s experience and reputation in the Manufacturing Industry.
“We are enthusiastic about the transition to our new partners, Stewart Capital Partners and Orion Financial Corp. They have a strong team that will continue to push the company to new levels of success. It is nice to see the employees who have been contributing to the company for years have a seamless transition to new ownership and remain a part of the company’s future.” – Paul Lague, President of TC American Monorail Systems Inc.
Quazar strategically contacted a select group of potential buyers, but in the end, Stewart Capital Partners and Orion Financial Corp. were chosen as the best fit to partner with TC/American to help meet their goal of continued growth in the crane system marketplace.
About TC/American Crane Company: TC/American Crane Company is a new entity formed by Stewart Capital Partners and Orion Financial Corp. Stewart Capital Partners focuses on the acquisition of private operating companies in specific industries. Orion Financial Corp. acts as a principal by directly investing its funds in companies to support management in acquisitions, growth, and recapitalization. Founded in 1982, Orion has successfully invested in excess of 30 operating companies.
About Quazar Capital Corporation: Quazar Capital Corporation is a Minnesota Investment Banking Firm with over 25 years’ experience confidentially helping privately held companies with Mergers and Acquisitions, Recapitalizations, and Financial Advisory Services. Quazar specializes in transitioning companies with Revenues of $10 – $100 million and EBITDA of $2 – $10 million.