Like most of Dover’s diversified manufacturing companies, Tranter, a maker of industrial heat transfer products, is #1 in its niche market.

The company’s record profits in recent years reflect a strong demand for its products in both the U.S. and Europe. Tranter’s dominant position in its very focused market is an excellent example of why Dover’s philosophy of empowering independent companies to grow through internal development and external acquisition works for everyone’s benefit.
  Founded in 1932, Tranter was about a $30 million company when it was acquired in 1978 by Dover. The company has always manufactured heat transfer units that are sold to original equipment manufacturers (OEMs) and end-users to heat or cool industrial products.
  Among its major products today are plate and frame heat exchangers and Platecoil® heat exchangers, brazed heat exchangers and transformer radiators. Headquartered in Augusta, Georgia, Tranter now has three manufacturing plants in the U.S., two in Sweden, one in Switzerland and one in Malaysia, as well as separate re-gasketing facilities in the U.S., the U.K., Germany, Italy and Sweden.
  Tranter’s management team has led an aggressive acquisition program for the company in recent years. In 1992, they acquired Dean Products in Brooklyn, N.Y., a company that was in direct competition to Tranter’s Platecoil® product. Dean’s president was ready to retire and was happy to sell the business.
  In 1994, Tranter purchased Koolrad Manufacturing of Oshawa, Ontario, a company competing for Tranter’s transformer radiator market. In 1997, Tranter also acquired the assets of Canadian Radiator Manufacturer (CRM) of Ajax, Ontario, another player in the same market. Dean and CRM were eventually closed down and their assets, order backlog and customer lists transferred to Tranter and Koolrad. Koolrad became a strong contributor to Tranter’s success, providing a solid base of business for the important Canadian market. At the end of 2001, Tranter consolidated Koolrad’s production with their manufacturing facility in South Carolina.
  But Tranter also wanted an opening to the European market. In March 1994, after only about three months of negotiations, the company made its largest acquisition: HTT/Swep, a Swiss company with its primary production facilities in Landskrona, Sweden. When Swep was purchased, it primarily manufactured compact brazed heat exchangers, although it had a small line of plate and frame heat exchangers similar to those Tranter was making at its Texas plant. Swep products, which have some commercial as well as industrial applications, were sold directly by company-owned sales offices in the U.S and Europe and indirectly in Asia.

"The Tranter team uncovered potential acquisitions, pursued them, and put the deals together for Tranter ourselves. But it couldn't have been done without Dover."

Jack Ditterline, President, Tranter, Inc.

  Almost as soon as negotiations were concluded with Swep, Tranter moved to acquire another Swedish company—Reheat, a manufacturer of plate and frame heat exchangers in Vänersborg. Before opening acquisition negotiations with Tranter, Swep’s owners had attempted to acquire Reheat to buttress their own business, but Reheat had resisted their offers. When Tranter entered the picture, however, Reheat was open to acquisition discussions. The Tranter team had only to sit down with the owner of Reheat for the purchase and sale of the company to come to an amicable conclusion.
  Reheat’s technology has now been integrated into Tranter’s Texas plant. About half of all Reheat products sold in the U.S. are made in Texas, and the remainder are imported as parts from Sweden and put together here.
  Since acquiring Swep and Reheat, Tranter has gained a major foothold in the European market, and with their expansion into Malaysia in 2000, they now have a similar foothold in Asia.
  In 1998, Tranter acquired ThermoFluid International, of Arlington, Texas, a manufacturer of special ammonia refrigeration systems and low temperature heat exchangers.
  Dover’s role in Tranter’s geographic and product expansion? "Encouragement, legal expertise and financial backing." said Jack Ditterline, Tranter’s President. "The Tranter team uncovered potential acquisitions, pursued them, and put the deals together for Tranter ourselves. But it couldn’t have been done without Dover."