Morgenthaler Partners announced the recapitalization of Avtron Manufacturing, Inc., Independence, OH, a multi-business company that designs and manufactures technical products via three operating divisions: Aerospace, Load Banks, and Industrial Automation.
 
As part of the transaction, senior members of the management team, led by CEO Bob Fritz, will be significant equity holders in the company.
 
Avtron’s Aerospace Division provides test equipment for electrical, electronic, hydraulic and fuel systems to commercial airlines, maintenance shops, component manufacturers, and military forces on a global basis. The Load Bank Division offers test equipment and complementary products for diesel generator sets in North America and increasingly in Asia. Industrial Automation …