Secondary Buyout • Manufacturing

Oaktree Capital Management Acquires LPW Group

On March 17, 2024, asset manager Oaktree Capital Management acquired manufacturer LPW Group from Wynnchurch Capital

Acquisition Context
  • This is Oaktree Capital Management’s 4th transaction in the Manufacturing sector.
  • This is Oaktree Capital Management’s 80th transaction in the United States.
  • This is Oaktree Capital Management’s 11th transaction in Texas.

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M&A Deal Summary

Date March 17, 2024
Target LPW Group
Sector Manufacturing
Buyer(s) Oaktree Capital Management
Sellers(s) Wynnchurch Capital
Deal Type Secondary Buyout

Target Company

LPW Group

Houston, Texas, United States
LPW Group is a designer and manufacturer of specialty valves, actuators, fittings, flanges, and other flow control products that serve mission-critical applications across chemical, petrochemical, LNG, refining, renewable, naval, pulp & paper, and other industrial markets. LPW Group is based in Houston, Texas.
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Buyer Overview 1

Buyer

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


Deal Context for Buyer #
Overall 126 of 129
Sector: Manufacturing 4 of 4
Type: Secondary Buyout 24 of 24
State: Texas 11 of 11
Country: United States 80 of 83
Year: 2024 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-01 Electro-Mechanical

Bristol, Virginia, United States

Electro-Mechanical is a manufacturer of electrical apparatus and sells its products under the Federal Pacific, Line Power, Mirus International, and GridConnex brands. With five manufacturing facilities including a repair and service division, the company has nearly one million square feet of modern manufacturing facilities. Electro-Mechanical was founded in 1958 and is based in Bristol, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-24 Proserv

Aberdeen, United Kingdom

Proserv is a controls technology company incorporating two divisions, Proserv Controls, which encompasses our innovative subsea controls solutions, alongside our topside, IWOCS, sampling, and measurement offerings to the oil & gas and renewables markets, and Gilmore, a Proserv Company, known for its globally renowned control valves. Proserv is based in Aberdeen, United Kingdom.

Sell -

Seller Profile 1

SELLER

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit $50 to $750 million of equity per platform. Sectors of interest include manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.


Deal Context for Seller #
Overall 32 of 39
Sector: Manufacturing 6 of 6
Type: Secondary Buyout 14 of 18
State: Texas 3 of 4
Country: United States 27 of 32
Year: 2024 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Eastern Architectural Systems

Fort Myers, Florida, United States

Eastern Architectural Systems manufactures impact-resistant windows and doors, primarily serving the Florida repair and remodel market. Eastern Architectural Systems is based in Fort Myers, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-16 Handgards

El Paso, Texas, United States

Handgards manufactures and supplies high-quality food service disposable products, including gloves, bags, protective apparel, and flexible packaging. Handgards’ products are sold throughout North America to an extensive base of broad-line distributors, group purchasing organizations (“GPOs”), and national foodservice accounts. Handgards was founded in 1959 and is based in El Paso, Texas.

Buy -