Jan 14, 2019   SOURCE: BusinessWire

API Heat Transfer Announces New Ownership

API Heat Transfer Inc. (“API”), a global leader in the design and manufacture of a wide range of specialty heat exchangers and heat transfer solutions, today announced that an investor group led by Littlejohn & Co., LLC and Guggenheim Partners’ asset management and investment advisory business has acquired a majority interest in the company.

The investor group is excited to partner with API to further strengthen its position as the leading provider of heat transfer solutions to industrial markets across the globe. The group’s investment provides API with significant financial and strategic support to accelerate the company’s pursuit of operational excellence, best-in-class customer service and consistent global delivery.

About API

Founded in 1947, API Heat Transfer Inc. (www.apiheattransfer.com) is a global leader in the design and manufacture of a wide range of specialty heat exchangers and heat transfer solutions. Its product lineup meets the needs of virtually every industrial market. Headquartered in Buffalo, N.Y., the company employs more than 1,600 people worldwide and operates 11 facilities in four countries.

About Littlejohn & Co.

Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. The firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.

About Guggenheim Partners

Guggenheim Partners is a global investment and advisory firm with more than $265 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With over 2,400 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting www.GuggenheimPartners.com and following us on Twitter at www.twitter.com/guggenheimptnrs

1Assets under management are as of 06.30.2018 and include consulting services for clients whose assets are valued at approximately $66bn.