Tramec LLC 's management — along with Wells Fargo Strategic Capital and High Street Capital (HSC) — has bought out majority investor MacLean Investment Partners' entire interest in Tramec.
The arrangement will allow Shawnee, Kan.-based Tramec to pursue growth and diversification into new markets and locations, officials said in a Sept. 23 news release. The company did not say what new areas it is interested in.
Tramec makes and distributes products for markets including automotive, lawn and garden, commercial vehicle, construction, agriculture and recreational vehicle.
Tramec LLC owns Tramec Plastics and Composites of Elk Grove Village, Ill., which has a plant in Wellington, Kan., with 20 injection molding presses ranging in clamping force from 20 to more than 1,000 tons. The unit makes components for commercial HVAC units, gear box mechanisms, consumer electronics, and consumer circulation fan blades and housings.
The Cim Tech Plastics Inc. unit in Elk Grove Village, which Tramec Plastics and Composites acquired in 2016, custom injection molds small and medium-size products, specializing in electro-mechanical parts.
Tramec LLC also owns Continental-Aero of Lyndhurst, N.J., and Tramec Hill Fastener LLC of Rock Falls, Ill., both of which make metal and nylon lock nuts.