Levine Leichtman Capital Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Levine Leichtman Capital Partners has acquired 8 companies. It has also invested in 3 others.

Levine Leichtman Capital Partners’ most common sectors for investment arebusiness services (11%) and consumer products (9%) . The Firm’s most common investment types include secondary buyout (37%) and buyout (lbo, mbo, mbi) (35%). In total, Levine Leichtman Capital Partners has invested in 20 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 16 companies. The Firm’s most common exit type is secondary buyout (54%). 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 Activity139
- M&A Buy Activity83
- M&A Sell Activity56
Total Sectors Invested 32
Total Countries Invested 6
M&A Buy/Sell Connections 30
M&A Advisors 19

Levine Leichtman Capital Partners

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

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '19	'20	'21	'22	'23	'24	T
Buy (3.6/yr)	#	65	7	3	3	3	2	83
vol	$135M						$135M
Sell (3.6/yr)	#	38	2	6	5	4	1	56
vol	$433M						$433M
	139

Year

≤ '19

'20

'21

'22

'23

'24

Buy (3.6/yr)

vol

$135M

Sell (3.6/yr)

vol

$433M

139

Company	Date	Value	Type
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
cleversoft GmbH	2023-06-12	-	Secondary Buyout
Munich, Germany · www.clever-soft.com
Kilwins	2023-02-23	-	Buyout (LBO, MBO, MBI)
Petoskey, Michigan
GL Education Group Ltd.	2023-02-21	-	Trade Sale
Brentford, United Kingdom · www.gl-education.com
View All >>

Company

Date

Value

Type

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

cleversoft GmbH

2023-06-12

Secondary Buyout

Munich, Germany · www.clever-soft.com

Kilwins

2023-02-23

Buyout (LBO, MBO, MBI)

Petoskey, Michigan

GL Education Group Ltd.

2023-02-21

Trade Sale

Brentford, United Kingdom · www.gl-education.com

View All >>

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

Company

Acquired

Add-On/Sale

Date

In-Place Machining Co. LLC

2021-09-22

Western Machine Works LLC

2023-03-28

Milwaukee, Wisconsin · www.inplace.com

Portland, Oregon · www.westernmachine.com

Capsa Solutions LLC

2017-09-11

Humanscale Healthcare

2022-02-16

Canal Winchester, Ohio · www.capsahealthcare.com

New York, New York

BigHand Ltd.

2020-08-28

Iridium Technology LLC

2022-02-02

London, United Kingdom · www.bighand.com

Reno, Nevada · www.iridium-technology.com

Sector	Current #	Value	All-time #	Value
Business Services	4 (16%)	-	9 (11%)	-
Consumer Products	2 (8%)	-	7 (8%)	-
Financial Services	2 (8%)	-	5 (6%)	-
Restaurants	-	-	5 (6%)	-
Franchising	-	-	4 (5%)	90M (67%)
Consumer Services	1 (4%)	-	4 (5%)	-
Education	1 (4%)	-	4 (5%)	-
Healthcare Services	2 (8%)	-	4 (5%)	-
Machinery	2 (8%)	-	4 (5%)	-
Internet Software and Services	1 (4%)	-	3 (4%)	-
Manufacturing	1 (4%)	-	3 (4%)	-
Publishing	1 (4%)	-	3 (4%)	-
Technology Hardware	-	-	3 (4%)	-
Medical Products	1 (4%)	-	2 (2%)	45M (33%)
Aerospace	-	-	2 (2%)	-
Food	1 (4%)	-	2 (2%)	-
Gaming	-	-	2 (2%)	-
Real Estate	-	-	2 (2%)	-
Test/Measurement Equipment	2 (8%)	-	2 (2%)	-
Apparel/Textiles	-	-	1 (1%)	-
Building Materials	-	-	1 (1%)	-
Defense	-	-	1 (1%)	-
Energy Services and Equipment	-	-	1 (1%)	-
Environmental	1 (4%)	-	1 (1%)	-
Information Services	1 (4%)	-	1 (1%)	-
Leisure	-	-	1 (1%)	-
Marketing	-	-	1 (1%)	-
Media	1 (4%)	-	1 (1%)	-
Metals/Mining	-	-	1 (1%)	-
Safety/Security	-	-	1 (1%)	-
Software	1 (4%)	-	1 (1%)	-
Transportation	-	-	1 (1%)	-
Total	25	-	83	$135M

Sector

Current #

Value

All-time #

Value

Business Services

4 (16%)

9 (11%)

Consumer Products

2 (8%)

7 (8%)

Financial Services

2 (8%)

5 (6%)

Restaurants

5 (6%)

Franchising

4 (5%)

90M (67%)

Consumer Services

1 (4%)

4 (5%)

Education

1 (4%)

4 (5%)

Healthcare Services

2 (8%)

4 (5%)

Machinery

2 (8%)

4 (5%)

Internet Software and Services

1 (4%)

3 (4%)

Manufacturing

1 (4%)

3 (4%)

Publishing

1 (4%)

3 (4%)

Technology Hardware

3 (4%)

Medical Products

1 (4%)

2 (2%)

45M (33%)

Aerospace

2 (2%)

Food

1 (4%)

2 (2%)

Gaming

2 (2%)

Real Estate

2 (2%)

Test/Measurement Equipment

2 (8%)

2 (2%)

Apparel/Textiles

1 (1%)

Building Materials

1 (1%)

Defense

1 (1%)

Energy Services and Equipment

1 (1%)

Environmental

1 (4%)

1 (1%)

Information Services

1 (4%)

1 (1%)

Leisure

1 (1%)

Marketing

1 (1%)

Media

1 (4%)

1 (1%)

Metals/Mining

1 (1%)

Safety/Security

1 (1%)

Software

1 (4%)

1 (1%)

Transportation

1 (1%)

Total

$135M

State/Country	Current #	Value	All-time #	Value
United States	15 (60%)	-	68 (82%)	135M (100%)
	California	3 (12%)	-	19 (23%)	-
	Texas	1 (4%)	-	10 (12%)	90M (67%)
	Illinois	2 (8%)	-	5 (6%)	-
	Florida	-	-	5 (6%)	45M (33%)
	Ohio	2 (8%)	-	4 (5%)	-
	North Carolina	3 (12%)	-	3 (4%)	-
	Mississippi	-	-	3 (4%)	-
	Georgia	-	-	3 (4%)	-
	Colorado	1 (4%)	-	2 (2%)	-
	Wisconsin	1 (4%)	-	2 (2%)	-
	Pennsylvania	-	-	2 (2%)	-
	New Jersey	-	-	2 (2%)	-
	Vermont	1 (4%)	-	1 (1%)	-
	Michigan	1 (4%)	-	1 (1%)	-
	Arkansas	-	-	1 (1%)	-
	Alabama	-	-	1 (1%)	-
	Virginia	-	-	1 (1%)	-
	Nevada	-	-	1 (1%)	-
	Minnesota	-	-	1 (1%)	-
	Maryland	-	-	1 (1%)	-
United Kingdom	5 (20%)	-	8 (10%)	-
Netherlands	2 (8%)	-	4 (5%)	-
Germany	1 (4%)	-	1 (1%)	-
Czech Republic	1 (4%)	-	1 (1%)	-
Ireland	1 (4%)	-	1 (1%)	-
Domestic	15 (60%)	-	68 (82%)	135M (100%)
Cross-border	10 (40%)	-	15 (18%)	-
Total	25	-	83	$135M

State/Country

Current #

Value

All-time #

Value

United States

15 (60%)

68 (82%)

135M (100%)

California

3 (12%)

19 (23%)

Texas

1 (4%)

10 (12%)

90M (67%)

Illinois

2 (8%)

5 (6%)

Florida

5 (6%)

45M (33%)

Ohio

2 (8%)

4 (5%)

North Carolina

3 (12%)

3 (4%)

Mississippi

3 (4%)

Georgia

3 (4%)

Colorado

1 (4%)

2 (2%)

Wisconsin

1 (4%)

2 (2%)

Pennsylvania

2 (2%)

New Jersey

2 (2%)

Vermont

1 (4%)

1 (1%)

Michigan

1 (4%)

1 (1%)

Arkansas

1 (1%)

Alabama

1 (1%)

Virginia

1 (1%)

Nevada

1 (1%)

Minnesota

1 (1%)

Maryland

1 (1%)

United Kingdom

5 (20%)

8 (10%)

Netherlands

2 (8%)

4 (5%)

Germany

1 (4%)

1 (1%)

Czech Republic

1 (4%)

1 (1%)

Ireland

1 (4%)

1 (1%)

Domestic

15 (60%)

68 (82%)

135M (100%)

Cross-border

10 (40%)

15 (18%)

Total

$135M

Type	Current #	Value	All-time #	Value
Secondary Buyout	16 (64%)	-	30 (36%)	-
Buyout (LBO, MBO, MBI)	3 (12%)	-	29 (35%)	90M (67%)
Divestiture	2 (8%)	-	7 (8%)	45M (33%)
Growth Capital	4 (16%)	-	7 (8%)	-
PIPE	-	-	4 (5%)	-
Recapitalization	-	-	2 (2%)	-
Special Situations/Distressed	-	-	2 (2%)	-
Consolidation	-	-	1 (1%)	-
Stake Purchase	-	-	1 (1%)	-
Total	25	-	83	$135M

Type

Current #

Value

All-time #

Value

Secondary Buyout

16 (64%)

30 (36%)

Buyout (LBO, MBO, MBI)

3 (12%)

29 (35%)

90M (67%)

Divestiture

2 (8%)

7 (8%)

45M (33%)

Growth Capital

4 (16%)

7 (8%)

PIPE

4 (5%)

Recapitalization

2 (2%)

Special Situations/Distressed

2 (2%)

Consolidation

1 (1%)

Stake Purchase

1 (1%)

Total

$135M

Type	Total #	Value
Secondary Sale	30 (54%)	-
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%)	-
Total	56	$433M

Type

Total #

Value

Secondary Sale

30 (54%)

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%)

Total

$433M

Financial	Deals
PwC Corporate Finance LLC	3
Houlihan Lokey	3
Deloitte	3

Financial

Deals

PwC Corporate Finance LLC

Houlihan Lokey

Deloitte

Legal	Deals
Kirkland & Ellis	12
Honigman	12
Willkie Farr & Gallagher	5

Legal

Deals

Kirkland & Ellis

Honigman

Willkie Farr & Gallagher

buy	#	Total
< $100M	2	$135M
TOTAL	$135M
Largest	CICI Enterprises LP $90M (2003-11-03)

buy

Total

< $100M

$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)

sell

Total

$100M to $1B

$393M

< $100M

$40M

TOTAL

$433M

Largest

Concentrex, Inc.
$140M (2000-07-18)

		Deals
Acquired from
Investor(s)	36%	30 (36%)
Strategic(s)	8%	7 (8%)
Exited to
Investor(s)	55%	31 (55%)
Strategic(s)	29%	16 (29%)

Deals

Acquired from

Investor(s)

30 (36%)

Strategic(s)

7 (8%)

Exited to

Investor(s)

31 (55%)

Strategic(s)

16 (29%)

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.

Levine Leichtman Capital Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

M&A Summary