Levine Leichtman Capital Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Levine Leichtman Capital Partners has acquired 12 companies. It has also invested in 3 others.

Levine Leichtman Capital Partners’ most common sectors for investment arebusiness services (11%) and consumer products (8%) . The Firm’s most common investment types include secondary buyout (38%) and buyout (lbo, mbo, mbi) (35%). In total, Levine Leichtman Capital Partners has invested in 21 US states and 6 different countries. Its largest (disclosed) acquisition occurred in 2003 when it acquired CICI Enterprises for $90M.

In the last 3 years, Levine Leichtman Capital Partners has exited 17 companies. The Firm’s most common exit type is secondary buyout (53%). Levine Leichtman Capital Partners’ largest (disclosed) exit occurred in 2000 when it sold Concentrex for $140M.

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M&A Summary

  • M&A Total Activity145
    • M&A Buy Activity88
    • M&A Sell Activity57
  • Total Sectors Invested 33
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 30
  • M&A Advisors 19

Levine Leichtman Capital Partners

Levine Leichtman Capital Partners LLC

345 North Maple Drive Suite 300,
Beverly Hills, California 90210
United States
(310) 275-5335
www.llcp.com
main@llcp.com

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Building Materials, Business Services, Consumer Products, Consumer Services, Distribution, Education, Energy Services and Equipment, Engineering, Financial Services, Food, Franchising, Furniture, Gaming, Healthcare Services, Leisure, Manufacturing, Media, Metals/Mining, Publishing, Real Estate, Restaurants, Retail, Safety/Security, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Special Situations/Distressed, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, United Kingdom, Western Europe, Eastern Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (4.6/yr) # 65 8 4 3 3 5 88
vol $135M $135M
Sell (3.8/yr) # 38 2 6 6 4 1 57
vol $433M $433M
  145

Most Recent M&A

Company Date Value Type
ZGS Bildungs-GmbH 2024-10-24 - Secondary Buyout
Gelsenkirchen, Germany · www.schuelerhilfe.de
The Expert Institute Group LLC 2024-09-30 - Secondary Buyout
New York, New York · www.theexpertinstitute.com
Improve International 2024-07-10 - Secondary Buyout
Swindon, United Kingdom · www.improveinternational.com
NSL Analytical Services, Inc. 2024-06-27 - Secondary Buyout
Cleveland, Ohio · www.nslanalytical.com
Tropical Smoothie Cafe LLC 2024-04-24 - Secondary Sale
Atlanta, Georgia · www.tropicalsmoothiecafe.com
USA Water Holdings LLC 2024-02-22 - Secondary Buyout
Houston, Texas · www.usawaterholdings.com
TRC Healthcare, Inc. 2023-11-20 - Trade Sale
Stockton, California · www.trchealthcare.com
Smith System Driver Improvement Institute, Inc. 2023-11-07 - Secondary Sale
Arlington, Texas · www.drivedifferent.com
SK AeroSafety Group 2023-07-20 - Secondary Sale
Wokingham, United Kingdom · www.skaerosafetygroup.com
SEV Laser 2023-06-21 - Growth Capital
Glendale, California · www.sevlaser.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
In-Place Machining Co. LLC 2021-09-22 Western Machine Works LLC 2023-03-28 2
Milwaukee, Wisconsin · www.inplace.com Portland, Oregon · www.westernmachine.com
Capsa Solutions LLC 2017-09-11 Humanscale Healthcare 2022-02-16 5
Canal Winchester, Ohio · www.capsahealthcare.com New York, New York
BigHand Ltd. 2020-08-28 Iridium Technology LLC 2022-02-02 1
London, United Kingdom · www.bighand.com Reno, Nevada · www.iridium-technology.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 4 (14%) - 9 (10%) -
Consumer Products 2 (7%) - 7 (8%) -
Education 3 (10%) - 6 (7%) -
Consumer Services 2 (7%) - 5 (6%) -
Financial Services 2 (7%) - 5 (6%) -
Restaurants - - 5 (6%) -
Franchising - - 4 (5%) 90M (67%)
Healthcare Services 2 (7%) - 4 (5%) -
Machinery 2 (7%) - 4 (5%) -
Internet Software and Services 1 (3%) - 3 (3%) -
Manufacturing 1 (3%) - 3 (3%) -
Publishing - - 3 (3%) -
Technology Hardware - - 3 (3%) -
Medical Products 1 (3%) - 2 (2%) 45M (33%)
Aerospace - - 2 (2%) -
Food 1 (3%) - 2 (2%) -
Gaming - - 2 (2%) -
Real Estate - - 2 (2%) -
Safety/Security 1 (3%) - 2 (2%) -
Test/Measurement Equipment 2 (7%) - 2 (2%) -
Apparel/Textiles - - 1 (1%) -
Building Materials - - 1 (1%) -
Defense - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Environmental 1 (3%) - 1 (1%) -
Information Services 1 (3%) - 1 (1%) -
Information Technology 1 (3%) - 1 (1%) -
Leisure - - 1 (1%) -
Marketing - - 1 (1%) -
Media 1 (3%) - 1 (1%) -
Metals/Mining - - 1 (1%) -
Software 1 (3%) - 1 (1%) -
Transportation - - 1 (1%) -
Total 29 - 88 $135M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (62%) - 71 (81%) 135M (100%)
  California 3 (10%) - 17 (19%) -
  Texas 1 (3%) - 10 (11%) 90M (67%)
  Illinois 2 (7%) - 5 (6%) -
  Florida - - 5 (6%) 45M (33%)
  Ohio 2 (7%) - 4 (5%) -
  North Carolina 3 (10%) - 3 (3%) -
  Pennsylvania 1 (3%) - 3 (3%) -
  Nevada - - 3 (3%) -
  Mississippi - - 3 (3%) -
  Georgia - - 3 (3%) -
  Wisconsin 1 (3%) - 2 (2%) -
  Virginia 1 (3%) - 2 (2%) -
  Colorado 1 (3%) - 2 (2%) -
  New Jersey - - 2 (2%) -
  Rhode Island 1 (3%) - 1 (1%) -
  New York 1 (3%) - 1 (1%) -
  Michigan 1 (3%) - 1 (1%) -
  Arkansas - - 1 (1%) -
  Alabama - - 1 (1%) -
  Minnesota - - 1 (1%) -
  Maryland - - 1 (1%) -
United Kingdom 6 (21%) - 9 (10%) -
Netherlands 2 (7%) - 4 (5%) -
Germany 2 (7%) - 2 (2%) -
Czech Republic 1 (3%) - 1 (1%) -
Ireland - - 1 (1%) -
Domestic 18 (62%) - 71 (81%) 135M (100%)
Cross-border 11 (38%) - 17 (19%) -
Total 29 - 88 $135M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 18 (62%) - 33 (38%) -
Buyout (LBO, MBO, MBI) 4 (14%) - 30 (34%) 90M (67%)
Growth Capital 5 (17%) - 8 (9%) -
Divestiture 2 (7%) - 7 (8%) 45M (33%)
PIPE - - 4 (5%) -
Recapitalization - - 2 (2%) -
Special Situations/Distressed - - 2 (2%) -
Consolidation - - 1 (1%) -
Stake Purchase - - 1 (1%) -
Total 29 - 88 $135M

Exits by Deal Type

Type Total # Value
Secondary Sale 30 (53%) -
Trade Sale 12 (21%) 140M (32%)
Trade Sale - Public Company 5 (9%) 293M (68%)
Bankruptcy 3 (5%) -
Recapitalization 2 (4%) -
Sold to Management 2 (4%) -
Stake Sale 2 (4%) -
Unknown 1 (2%) -
Total 57 $433M

Top M&A Advisors

Financial Deals
Houlihan Lokey
 4
KPMG Corporate Finance LLC
 4
PwC Corporate Finance LLC
 3
Legal Deals
Honigman
 13
Kirkland & Ellis
 12
Willkie Farr & Gallagher
 6

Deal Values

buy # Total
< $100M 2 $135M
TOTAL $135M
Largest CICI Enterprises LP
$90M (2003-11-03)
sell # Total
$100M to $1B 3 $393M
< $100M 1 $40M
TOTAL $433M
Largest Concentrex, Inc.
$140M (2000-07-18)

M&A Connections

Deals
Acquired from
Investor(s)
38%
33 (38%)
Strategic(s)
8%
7 (8%)
Exited to
Investor(s)
54%
31 (54%)
Strategic(s)
28%
16 (28%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Mega

PE Assets

12.9B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

Arthur Levine

Founding Partner & Co-Chairperson of the Executive and Investment Committees

Lauren Leichtman

Founding Partner & Co-Chairperson of the Executive, Investment Committees

Josh Kaufman

Head of Europe

Matthew Frankel

Managing Partner

Michael Weinberg

Managing Partner

FAQ

When was Levine Leichtman Capital Partners founded?

Levine Leichtman Capital Partners was founded in 1984.

What type of investor is Levine Leichtman Capital Partners?

Levine Leichtman Capital Partners is a mezzanine finance firm.

Where is Levine Leichtman Capital Partners headquartered?

Levine Leichtman Capital Partners is headquartered in Beverly Hills, California.

How much capital does Levine Leichtman Capital Partners have under management?

Levine Leichtman Capital Partners has 12.9B USD under management.

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