M&A Deal Summary

Levine Leichtman Capital Partners Acquires In-Place Machining

On September 22, 2021, mezzanine finance firm Levine Leichtman Capital Partners acquired machinery company In-Place Machining from Platte River Equity

Acquisition Highlights
  • This is Levine Leichtman Capital Partners’ 4th transaction in the Machinery sector.
  • This is Levine Leichtman Capital Partners’ 64th transaction in the United States.
  • This is Levine Leichtman Capital Partners’ 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2021-09-22
Target In-Place Machining
Sector Machinery
Buyer(s) Levine Leichtman Capital Partners
Sellers(s) Platte River Equity
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

In-Place Machining

Milwaukee, Wisconsin, United States
In-Place Machining is a provider of high-acuity field machining, metrology, and diamond wire-cutting services for mission-critical infrastructure and equipment. The Company’s services are an essential part of the maintenance, repair, and service cycle for clients across a variety of end-markets including industrial and manufacturing, naval and marine, hydroelectric, metals, and aerospace. In-Place Machining was founded in 1976 and is based in Milwaukee, Wisconsin.

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Buyer(S) 1

Buyer

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 77 of 88
Sector (Machinery) 4 of 4
Type (Secondary Buyout) 25 of 33
State (Wisconsin) 2 of 2
Country (United States) 64 of 71
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Flexxray

Arlington, Texas, United States

FlexXray is a provider of x-ray inspection services focused exclusively on food safety. The company assists food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food. Hundreds of manufacturing plants in North America rely on FlexXray’s expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Caring Brands International

Sunrise, Florida, United States

Caring Brands International is a provider of home healthcare services under three global brands: Interim Healthcare (United States), Bluebird Care (United Kingdom & Republic of Ireland) and Just Better Care (Australia). The franchisees offer patients a full continuum of care including skilled home nursing, assistance with daily living activities and end-of-life hospice care. Caring Brands International was founded in 1966 and is based in Sunrise, Florida.

Sell -

Seller(S) 1

SELLER

Platte River Equity

Denver, Colorado, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Platte River Equity is a private equity firm focused on investing in small and middle-market private companies based in the US. Platte River generally invests $25 to $100 million of equity capital per transaction and looks for businesses that can benefit from the Firm's operating expertise. Sectors of interest include aerospace manufacturing and services, metals, chemicals, energy and energy services, natural resources, financial services, and communications. Platte River typically targets control investment situations, but will opportunistically pursue minority investments. Platte River Equity was formed in 2006 and is based in Denver, Colorado.

DEAL STATS #
Overall 15 of 18
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 5 of 7
State (Wisconsin) 1 of 1
Country (United States) 14 of 17
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 CTS Engines

Fort Lauderdale, Florida, United States

CTS Engines provides a full spectrum of maintenance, repair, and overhaul (“MRO”) services for established engine platforms, specializing in the overhaul of the General Electric CF6-80C2, CF6-80A and CF6-50 engines, as well as the Pratt & Whitney PW2000. CTS also performs developmental testing on next-generation aerospace engines utilizing the highest thrust independent commercial test facility in the world. CTS Engines was founded in 2002 and is based in Fort Lauderdale, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 MetCon

Monaca, Pennsylvania, United States

MetCon is a titanium metal processing company providing intermediate conditioning and finishing services. MetCon was founded in 2010 and is based in Monaca, Pennsylvania.

Sell -
Mergr

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