Mangrove Closes our 4th Deal of 2015

Tioga Reliable Mobileair

Mangrove Equity Partners is pleased to announce the closing of our fourth acquisition in 2015 and second add-on for Tioga Air Heaters. The Mangrove team recently completed the acquisition of Mobile Air, Inc.; another meaningful add-on acquisition in support of Tioga.

The Mobile acquisition coupled with our earlier acquisition this year of Reliable Construction Heaters, Inc. triples EBITDA and adds significant diversification to the industries, customers and geographies served by Tioga, while reducing seasonality.

Mangrove Equity Partners: More Than the Commodity of Cash. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience (130 deals across 59 industries) to find ways to get deals done.

Mangrove’s three-man internal operating team affords us an ability to leverage their extensive experience working closely with our portfolio company partners to overcome hurdles to growth, and optimizing shareholder value, as evidenced by our work with Tioga.

Complexities/value building opportunities at Tioga where Mangrove’s operating assistance has been instrumental include:

  • The analytics and investment behind a significant build-up of equipment inventory for which there is seasonal demand
  • The creation and execution of a strategic plan regarding add-ons
  • Bringing considerable consolidation experience to the integration of add-ons into the Tioga platform

The Mangrove team has exemplified an attitude and practice of partnership with our deal sources over the past 25 years.

We roll up our sleeves and work with intermediaries to do what is necessary to move good deals forward, even in the face of company or deal complexity.

If an opportunity is not a fit for Mangrove’s criteria, we endeavor to provide accurate and helpful suggestions as to who may have a pointed interest.

Our goal is to help our deal sources get their deals done and accordingly, become their go-to fund in the lower middle market. 

We hope to have the pleasure of working closely with you.

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