M&A Deal Summary

L Squared Capital Partners Acquires Crane 1

On August 16, 2021, private equity firm L Squared Capital Partners acquired machinery company Crane 1 from Pfingsten Partners

Acquisition Highlights
  • This is L Squared Capital Partners’ 1st transaction in the Machinery sector.
  • This is L Squared Capital Partners’ 9th transaction in the United States.
  • This is L Squared Capital Partners’ 1st transaction in Ohio.

M&A Deal Summary

Date 2021-08-16
Target Crane 1
Sector Machinery
Buyer(s) L Squared Capital Partners
Sellers(s) Pfingsten Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
Katten Muchin Rosenman (Legal)

Target

Crane 1

Miamisburg, Ohio, United States
website
Crane 1 is a provider of overhead crane services and equipment that maximize safety, diminish liability, reduce maintenance costs, and increase overall productivity. Crane 1 offers a full suite of services, including inspections, maintenance, repair, design, and installation of overhead crane systems and below-the-hook lifting devices. Crane 1 was founded in 2007 and is based in Miamisburg, Ohio.

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Buyer(S) 1

DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $20 to $125 million in revenue. The Firm looks to commit $50 to $125 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 9 of 13
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Ohio) 1 of 1
Country (United States) 9 of 13
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 Kanopy

San Francisco, California, United States

Kanopy is a streaming video platform that offers millions of professors, students, and public library patrons free and convenient access to a unique collection of 30,000 highly curated films and documentaries. Kanopy was founded in 2008 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 Sterling Trading Tech

Chicago, Illinois, United States

Sterling Trading Tech is a provider of professional trading technology solutions for the global equities, equity options, and futures markets. With over 100 clients including leading brokers, clearing firms, and prop groups in over 20 countries, STT provides solutions tailored to clients’ needs. The company is committed to providing fast, stable technology along with outstanding customer service. It provides trading platforms, OMS, and risk products to its clients. Sterling Trading Tech was formed in 2001 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


DEAL STATS #
Overall 34 of 39
Sector (Machinery) 6 of 6
Type (Secondary Buyout) 14 of 16
State (Ohio) 7 of 8
Country (United States) 34 of 39
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 Omega Systems

Reading, Pennsylvania, United States

Omega Systems is a managed service provider (MSP) and managed security service provider (MSSP) to mid-market organizations in the financial services, government, manufacturing, professional services, and education industries. Omega Systems is based in Reading, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 Burton Mill Solutions

Woodland, Washington, United States

Burton Mill Solutions is a manufacturer and distributor of consumable products and equipment to saw mills and wood product manufacturers. Burton Mill Solutions was established in 1903 and is based in Springfield, Oregon.

Sell -