Roanoke, VA - Industrial Device Investments LLC (IDI), in collaboration with Source Capital, announces investment in Tread Corporation. John Dalton will lead the board of directors.
John Dalton, IDI Managing Director, said “IDI is delighted to invest with Source Capital, teaming in another deal, to help Tread regain its position in the mining, quarry, and construction industries. We look forward to working with Bjorn & his team to support future growth for Tread and Tread customers success.”
Along with investment by IDI and Source, Bjorn Gohre joins Tread as President. Bjorn comes to Tread with 23 years of experience in diverse mining related fields. Welcome Bjorn! Bjorn said, "on behalf of Tread, we are grateful for the investment IDI & Source has made in Tread Corporation. I am very excited to have joined Tread and to lead such a creative team that has been providing cutting edge technology and explosives systems to the mining and construction industry for over 65 years."
Tom Harbin, Managing Partner of Source Capital, said “we are excited to partner on another growth opportunity with IDI, and look forward to seeing the positive impact of their operational and strategic support with the team at Tread. Bjorn has joined the Company at a pivotal point, and we are eager to see the company expand under his leadership”. Sam Allen, Vice President of Source Capital, continues to provide exceptional interim Tread Company and deal transaction support.
Mike Rubinger of Nelson Mullins provided legal support for IDI.