Keystone Capital has sold Rocore Group to Triton

Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Keystone Capital has sold Rocore Group (“Rocore” or the “Company”) to Triton. Terms of the transaction were not disclosed.

Rocore, headquartered in Indianapolis, Indiana, is a leading supplier of fabricated sub-assemblies used in heavy duty industrial radiators. Rocore supplies a wide variety of heat exchange solutions, products and services into heavy duty industrial end markets, including power generation, petrochemical, oil and gas, rail, on-highway and off-highway. The Company maintains five operating facilities in the United States and one outside the U.S., plus multiple sales offices. With over one million heat exchangers manufactured, Rocore’s foundation is truly built around customer satisfaction through its service, product quality, capability and flexibility to meet customer needs.

Stuart Eden, President and CEO of Rocore, commented, “Lincoln’s understanding of Rocore’s value proposition and intimate knowledge of the heat exchanger space and buyer universe, coupled with its process execution focus enabled us to find the right partner to accelerate our growth.” David Greer, Managing Director at Keystone Capital, added, “Lincoln’s deep heat exchanger expertise and ability to manage an accelerated, aggressive process resulted in multiple highly attractive options and ultimately a very successful outcome for the shareholders.”

Lincoln acted as the exclusive investment banking representative for Keystone Capital and Rocore Group, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.

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