CLEVELAND and BOSTON, July 23,
2024 /PRNewswire/ -- MPE Partners ("MPE" or
"Morgenthaler Private Equity") announced today an investment in
LA-CO Industries ("LA-CO" or the "Company"), a manufacturer of
industrial hand-held markers, temperature indicating tools,
sterilization inks, plumbing chemicals, and livestock
identification products. MPE's investment positions LA-CO for
accelerated growth while ensuring the Company remains an industry
leader, an employer of choice, and a strategic partner for its
customers.
MPE partnered in the transaction with Benjamin Kleiman, fourth generation family
member and Chief Executive Officer, who will continue to lead LA-CO
Industries in its next phase of growth. Benjamin noted, "I am
incredibly excited for the future of LA-CO Industries with the
investment of MPE, a strong partner that closely aligns with our
vision for growth and greater success. The partnership recognizes
LA-CO's 90 years of industry-leading achievements as the foundation
for development of new products and opportunities for growth across
the globe to take the Company into a new era of success."
Graham Schena, Partner at MPE,
said, "We are thrilled about our investment in LA-CO Industries and
partnership with Benjamin and the rest of the management team.
Since its founding over 90 years ago, the Company has established a
market leading position driven by its wide breadth of high-quality,
performance-based products all while delivering premier customer
service." Brendan Newman, Vice
President at MPE, added, "We are looking forward to partnering with
Benjamin and the rest of the management team to pursue an
aggressive organic growth strategy as well as to execute and
integrate complementary add-on acquisitions, maintaining the strong
culture and commitment to its customers that has made LA-CO so
successful."
Apogem Capital and Fidelity Direct Lending provided financing to
support the transaction. Akerman LLP and Gide Loyrette Nouel served
as legal advisors to MPE. Grace
Matthews served as the financial advisor to LA-CO
Industries. Terms of the transaction were not disclosed.
About LA-CO Industries
Founded in 1934 and
headquartered in Elk Grove Village,
IL, with an additional manufacturing facility in Blyes,
France, LA-CO Industries is a
leading manufacturer of industrial hand-held markers, temperature
indicating tools, sterilization inks, plumbing chemicals, and
livestock identification products. Under its flagship brands,
LA-CO, Markal, Tempil, and All-Weather, LA-CO Industries offers
high-quality, performance-based products designed for customers'
unique applications. The Company primarily serves its loyal, global
customer base through industrial distributors but also sells
through the commercial and eCommerce channels. For more
information, please visit https://www.lacoindustries.com/.
About MPE Partners
MPE Partners ("MPE" or
"Morgenthaler Private Equity") seeks to be the preferred partner
for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower
middle market companies with EBITDA between $8 million and $40
million. MPE has two primary target investment areas:
high-value manufacturing and commercial & industrial services.
For more information, please visit www.mpepartners.com.
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SOURCE MPE Partners