Central Moloney Acquires Cam Tran
Acquisition creates a leading North American manufacturer of distribution transformers and transformer components
Chicago, Ill., February 20, 2024 – Central Moloney, Inc. (“CMI”), a portfolio company of Wind Point Partners (“Wind Point”), is pleased to announce its acquisition of Cam Tran Co. Ltd. (“Cam Tran”), the largest Canadian manufacturer of distribution transformers and the largest North American producer of amorphous metal transformers (“AMTs”). The combination (collectively the “Combined Company”) forms one of the largest producers of distribution transformers in North America with considerable capacity and diverse engineering capabilities. The current distribution transformer market is attractive, supported by significant grid hardening and electrification tailwinds. The Combined Company will employ around 1,000 people and operate eight transformer and component manufacturing facilities across North America.
Headquartered in Pine Bluff, Ark., CMI offers a full suite of customizable distribution transformers and transformer components. For decades, CMI has been a leader the industry with innovative products to improve the quality and reliability of the electrical grid. Wind Point acquired CMI in October 2023 in partnership with Chris Hart (CEO) and other incumbent management. Chris Hart, who has been with CMI since 2002, has been the CEO since 2018.
Headquartered in Ontario, Canada, Cam Tran was founded in 1982 by the Campbell family as a transformer repair shop. Since then, Cam Tran has grown to be the leading Canadian manufacturer of a diverse line of distribution transformers with over 450 employees working across five Canadian provinces and over 250,000 sq. ft. of manufacturing space. Kyle Campbell, President of Cam Tran, has led the company since 1982.
The Combined Company will be led by Mr. Hart as CEO. Mr. Campbell will join the Board of Directors. CMI and Cam Tran will continue to operate under the separate brands but will leverage the capacity across the combined manufacturing footprint to support each company’s customers’ growing demand.
“This is a natural fit and will enable both CMI and Cam Tran to better serve the growing demand for distribution transformers in North America,” stated Mr. Hart. “The new, scaled platform creates a continental leader, with meaningful production capacity across the U.S. and Canada.”
“The next chapter for Cam Tran is bright, and we’re glad to have partnered with a company that aligns so strongly with our mission and values,” noted Mr. Campbell. “These businesses were meant to be together, and this combination will bring significant value to both our customers and employees.”
Nathan Brown, Managing Director at Wind Point, commented, “We are excited to combine two very impressive and reputable companies within the distribution transformer industry. CMI and Cam Tran bring a shared, customer-centric, culture to a common goal of serving North American utilities with reliable supply and performance, at the highest quality. We believe this combination will bring tremendous value to all stakeholders involved.”
Wind Point is an active investor in critical infrastructure products and services, with select current and prior investments including Critica Infrastructure, D&H United, Kleinfelder Group, RailWorks, Smart Care and Valicor.
Winston & Strawn LLP and Stikeman Elliot served as legal counsel to Wind Point. KPMG LLP provided transaction advisory services in connection with the transaction to Wind Point. Lincoln International served as financial advisor to Cam Tran.