M&A Deal Summary

L Squared Capital Partners Acquires Kano Laboratories

On December 18, 2024, private equity firm L Squared Capital Partners acquired chemicals company Kano Laboratories from Gryphon Investors

Acquisition Highlights
  • This is L Squared Capital Partners’ 1st transaction in the Chemicals sector.
  • This is L Squared Capital Partners’ 17th transaction in the United States.
  • This is L Squared Capital Partners’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2024-12-18
Target Kano Laboratories
Sector Chemicals
Buyer(s) L Squared Capital Partners
Sellers(s) Gryphon Investors
Deal Type Secondary Buyout
Advisor(s) BMO Capital Markets (Financial)
Kirkland & Ellis (Legal)

Target

Kano Laboratories

Nashville, Tennessee, United States
Kano Laboratories is a producer of branded penetrating oils and lubricants in the industrial maintenance, repair, and operations and consumer markets. Kano Laboratories was founded in 1939 and is based in Nashville, Tennessee.

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Buyer(S) 1

Buyer
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 to $100 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 17 of 17
Sector: Chemicals M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
State: Tennessee M&A 1 of 1
Country: United States M&A 17 of 17
Year: 2024 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-04 TeachTown

Woburn, Massachusetts, United States

TeachTown provides software and solutions for students diagnosed with autism spectrum disorder, intellectual disabilities, and developmental disabilities. TeachTown was formed in 2003 and is based in Woburn, Massachusetts.

Buy -

Seller(S) 1

SELLER

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $500 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1995 and is based in San Francisco, California.


DEAL STATS #
Overall 41 of 43
Sector: Chemicals M&A 1 of 1
Type: Secondary Buyout M&A Deals 16 of 17
State: Tennessee M&A 2 of 2
Country: United States M&A 41 of 43
Year: 2024 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-16 phData

Minneapolis, Minnesota, United States

phData offers services including data engineering, AI and machine learning, analytics, and visualization to customers across the financial services, manufacturing, healthcare and life sciences, and retail and consumer packaged goods industries. phData was founded in 2014 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-21 Shermco Industries

Irving, Texas, United States

Shermco Industries is a provider of electrical testing, maintenance, commissioning, and repair services to a wide range of utility, industrial, energy, and other end markets across North America. The Company is an active participant in the InterNational Electrical Testing Association, Electrical Apparatus Service Association, and American Wind Energy Association. Shermco Industries was founded in 1974 and is based in Irving, Texas.

Sell $1.6B