MILWAUKEE, Dec. 21, 2017 /PRNewswire/ -- Aztech Controls ("Aztech"), an Arizona-based manufacturer and distributor of process control products has completed the divestiture of its distribution business to SemiTorr Group, Inc. ("SemiTorr") of Tualatin, Oregon.
Aztech Controls, led by its founder and CEO Patrick Frazier, has 26 successful years of operation as a manufacturer and distributor of high purity gas and fluid handling systems and components that meet the stringent requirements of the semiconductor industry, as well as the environmentally challenging needs of customers in mining, wastewater and power generation industries. Aztech's distribution business is focused on geographic markets in the Southwestern U.S.
SemiTorr, a portfolio company of Riverlake Partners, Inc., is a leading sales and distribution company supporting the semiconductor/microelectronic, life sciences and food and beverage markets. Founded in 1988, SemiTorr serves its customer base from its Oregon headquarters and eight distribution centers located across the Western and Northeast U.S.
"Because of their similar business models and industry specialization, but different geographic markets, this transaction is a win for both parties," said Joe Froehlich Managing Director for TKO Miller, LLC., who acted as Aztech's investment bank. "Aztech gives SemiTorr access to its southwestern semiconductor customer base, as well as its customers in the mining, wastewater and power plant sectors." For Patrick Frazier, this transaction provides liquidity as he begins the process of scaling back his business activities.
About TKO Miller
TKO Miller, LLC is an independent, advisory focused, middle-market investment bank. With over 100 years of collective transaction experience, TKO Miller provides merger & acquisition and financial advisory services for privately-held and private-equity owned businesses, with a special focus on family-and founder-held businesses. Core services include company sales, recapitalizations, asset divestitures, debt placement, and management buyouts. TKO Miller has served clients in a wide range of industries, including manufacturing, business services, consumer products, and industrial products and services. For more information, please visit www.tkomiller.com.
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SOURCE TKO Miller, LLC