MINNEAPOLIS — Northstar Capital, a provider of junior capital for middle market private equity transactions, is pleased to announce its investment in Standard Locknut LLC, a portfolio company of Tonka Bay Equity Partners.
Headquartered in Indianapolis, SLN is a market-leading domestic manufacturer of specialized bearing components, including locknuts, adapter sleeves and pillow blocks. SLN’s high-quality parts, engineering ability and high-touch customer service have created long-lasting customer relationships across a range of end markets, including recycling, aggregates/materials, transportation, mining, machinery, energy, pulp/paper, and material handling.
Northstar provided debt and an equity co-investment to help Tonka Bay finance the transaction.
The Northstar team remains committed to partnering with experienced management teams and private equity sponsors to help good companies become even better.
SLN is the 24th platform investment in Fund VII, a $500 million committed parallel fund strategy consisting of Northstar Mezzanine Partners VII L.P. and Northstar Mezzanine Partners SBIC L.P.
