Tonka Bay Invests in Standard Locknut
MINNETONKA, MN (November 30, 2022) — Tonka Bay Equity Partners LLC (“Tonka Bay”) led the acquisition of Standard Locknut, LLC, (“SLN” or the “Company”) a leading manufacturer of heavy-duty bearing accessories and components used across diverse end markets. Tonka Bay partnered with Minneapolis based private equity firm Northstar Capital to execute the growth strategy of the Company.
Based in Indianapolis, IN, Standard Locknut is a leading domestic manufacturing partner to its customers, delivering high-quality bearing components including pillow blocks, adapter sleeves and locknuts. The company’s high-quality parts, engineering ability and high-touch customer service creates long-lasting customer relationships.
David Zimmer, President of Standard Locknut said, “We are excited to partner with Tonka Bay, who brings a great cultural fit, an aligned focus on growth and prior industry experience. We look forward to joining forces with Tonka Bay to achieve the next level of success at Standard Locknut.”
Kam Kielhorn, Principal at Tonka Bay, stated, “We look forward to partnering with a very talented management team at SLN that has created a strong foundation for future growth. The Company has an incredible reputation in the market after delivering high quality products and service for decades.”
About Standard Locknut
Based in Indianapolis, Indiana, Standard Locknut is a leading domestic manufacturer of bearing accessories and components. The company supplies the industrial bearing market with a full line of bearing mounting products, serving a diverse range of end markets. For more information about Standard Locknut, please visit www.standard-miether.com.
About Tonka Bay Equity Partners
Based in Minnetonka, Minnesota, Tonka Bay has been Building Bigger, Better Businesses® for over 25 years. Tonka Bay Equity Partners is a private equity firm that acquires and invests in growth-oriented businesses in the highly engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2030 or visit tonkabayequity.com.