08/17/2021
Citizens Advises Orttech on its Recapitalization by Main Street Capital Corporation
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Orttech, Inc. on its majority recapitalization by Main Street Capital Corporation (NYSE: MAIN).
Headquartered in Solon, OH, Orttech is a leading value-added distributor delivering mission-critical torque control products to a diverse range of industrial power transmission end markets. Established in 1977, Orttech serves the press, marine, winch and agriculture markets, amongst others, with premier products and top-end service and expertise to its loyal, longstanding customer base.
Greg and Steve Zenczak, owners of Orttech, said: “Citizens was the only banking group who clearly understood the uniqueness of our business and reflected it in the way they valued the business and ultimately helped us realize that valuation. Jason Anderson and Kevin Mayer ran an incredibly well-structured, professional and efficient process. They exceeded our expectations throughout and provided critical expertise to the company, as well as to the buyers. If we had another business to sell, we would definitely choose the Citizens team again.”
Kevin Mayer, managing director at Citizens M&A Advisory, said: “It was an honor and pleasure advising Greg and Steve Zenczak in this milestone event and helping them monetize over 30 years of hard work and dedication to their customers and employees. The partnership with the Main Street team will provide Orttech with all the tools necessary to expand the business and take it to new heights. We are all excited to follow the continued growth of Orttech for years to come.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has closed more than 170 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $185.1 billion in assets as of June 30, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.
