Articles from L Squared Capital Partners

L Squared Capital Partners (“L Squared”) announced today the acquisition of Functional Devices, Inc. (“FDI” or the “Company”), a leading provider of quality field devices for building automation and emergency lighting systems. Functional Devices is best known for its iconic RIB® (Relay in a Box®) brand, which has become the industry standard for reliable, easy-to-install relays, current sensors, power supplies, and other power control products across commercial buildings, data centers, healthcare, and other high-performance environments. Mark Fernandes, President and CEO of Functional Devices, and the existing FDI leadership team invested in the transaction alongside L Squared and will continue to lead the business as we embark on this next phase of growth.

L Squared Capital Partners (“L Squared”) announced today a significant growth investment in Ergo (the “Company”), a technology-enabled geopolitical and strategic intelligence firm. For nearly twenty years, leading corporations, financial institutions, and governments have trusted Ergo’s data-driven insights to help them anticipate global opportunities and risks and shape strategic responses. Ergo marks L Squared’s fifth platform investment from Fund IV, an $840 million fund closed in April 2023. Ergo’s management team will retain a significant ownership stake in the Company, underscoring their long-term commitment to their clients, and to Ergo’s growth and success.

L Squared Capital Partners is pleased to announce that its portfolio company, BTX Precision (“BTX” or the “Company”), has acquired High Tech Solutions LLC (“HTS”), a Kansas City based precision manufacturer of aerospace components serving the commercial, business jet, and space end markets. The acquisition marks BTX’s 10th transaction since the platform’s inception, further cementing its position as the nation’s most trusted provider of advanced build-to-print components, seamlessly integrating with industry leaders to drive innovation and shape the future of precision manufacturing.

L Squared Capital Partners (“L Squared”) announced today the acquisition of Kano Laboratories (“Kano” or the “Company”). Kano is an 85-year-old leading provider of premium consumable chemical solutions used predominantly in industrial maintenance, repair, and operations (“MRO”) applications. This investment represents L Squared’s fourth platform investment in Fund IV, a $840 million private equity fund that closed in April 2023.

L Squared Capital Partners (“L Squared”) and CogneSense are pleased to announce that they have completed the acquisition of L&J Technologies (“L&J”). L&J is the first acquisition made by CogneSense since its founding by L Squared in late 2023. CogneSense, led by Paul Dhillon, is pursuing a buy and build strategy with a focus on combining longstanding, trusted, and leading environmental sensing, measurement, monitoring, and control businesses with younger companies that add additional technological innovation and capabilities. The focus of this strategy is the highly fragmented Environmental, Health, and Safety end-markets within the broader Sensing and Internet of Things (IoT) market. We will operationally integrate these companies and add resources that will accelerate their go-to-market and R&D capabilities while driving increased operational efficiency at substantially larger scale.

L Squared Capital Partners (“L Squared”) announced today that TransDigm Group Incorporated (NYSE: TDG) (“TransDigm”), a leading global producer, designer and supplier of engineered aerospace components, systems and subsystems, has entered into a definitive agreement to acquire Raptor Scientific, a global leader in complex test and measurement solutions for advanced Defense, Space, and Aerospace applications, for $655 million in cash. The transaction is subject to customary closing conditions and the receipt of regulatory approval.

L Squared Capital Partners (“L Squared”) announced today that APi Group Corporation (NYSE: APG) (“APi”), a global, market-leading business services provider of life safety, security, and specialty services has entered into a definitive agreement to acquire Elevated Facility Services (“Elevated” or “the Company”), a leading provider of elevator and escalator maintenance, repair, and modernization service. The transaction is expected to close in Q2 2024 and is subject to customary closing conditions and the receipt of regulatory approval.

L Squared Capital Partners (“L Squared” or “the Firm”) is thrilled to announce that it recently held the final closing for its fourth private equity fund (“Fund IV”), at $840 million. L Squared fully committed its $505 million third fund earlier this year with the investment in ERA Industries. Since its founding in July of 2014, L Squared has now raised four funds and accepted commitments of over $2 billion from its investors. This fundraise received strong support from existing investors and was supplemented by several new high-quality limited partners that included both institutions and additional large family offices, both domestically and internationally.

L Squared Capital Partners announced today the acquisition of Globe Scientific, a leading provider of laboratory consumable supplies. Globe Scientific is L Squared’s third acquisition as part of GSI Group Holdings. GSI Group is a collection of leading brands serving the biotech, clinical diagnostics, life sciences, education, and industrial sectors. With more than $100 million in revenue, GSI Group’s brands collectively offer a broad array of mission-critical lab-related consumable supplies, benchtop equipment, and related accessories. GSI Group has an unmatched geographic footprint with distribution locations on both the east and west coasts of the US as well as offices in Holland, Spain, and China that support customers in over 100 countries. Thousands of the world’s leading research, laboratory, clinical, academic, and industrial institutions rely on GSI Group products every day. Globe Scientific joins existing GSI Group leading brands AmScope, Euromex, Omax, and Physix.

L Squared Capital Partners announced today that Sandvik is acquiring GWS Tool Group, a leading provider of highly engineered consumable cutting tools. GWS will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. The acquisition of GWS will support Walter’s growth strategy in North America and strengthen its solid carbide tools offering. This acquisition represents a strategic opportunity to increase Walter’s and GWS’ respective positions in the manufacturing of advanced components and light-weight materials.

L Squared Capital Partners (“L Squared”) announced today that it is leading the recapitalization of Literacy Resources, LLC d/b/a Heggerty. Heggerty is a leading early childhood literacy solutions provider offering a comprehensive suite of phonemic and phonological awareness solutions.

L Squared Capital Partners (“L Squared”) is pleased to announce the acquisition of Chicago, IL based Sterling Trading Tech (“STT” or the “Company”) from LLR Partners and other investors, a leading SaaS provider of financial technology for the global capital markets. The investment represents L Squared’s fourth platform investment in Fund III, a $505 million private equity fund that closed in September 2020. STT’s management also participated in the acquisition.

L Squared Capital Partners (“L Squared”) announced today that it is leading a recapitalization of Lumaverse Technologies (“Lumaverse”), one of the leading providers of constituent management and engagement software for education, nonprofits and businesses, alongside existing investor PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies.

L Squared Capital Partners (“L Squared”) is pleased to announce the acquisition of Miamisburg, Ohio based Crane 1 (“Crane 1” or the “Company”), one of the largest providers of overhead Crane MRO services and equipment in the United States from Pfingsten. The investment represents L Squared’s second platform investment in Fund III, a $505 million private equity fund that closed in September 2020. Crane 1 is a proven M&A platform operating in the highly fragmented $3 billion market for overhead crane MRO services and equipment, having completed six acquisitions in the last five years.

L Squared Capital Partners (“L Squared”) is pleased to announce that its portfolio company, GWS Tool Group (“GWS” or the “Company”), has acquired Monster Tool Company located in Vista, CA (“Monster”). Monster is the fourth acquisition in 2021 for GWS and the seventh add-on acquisition since L Squared’s platform investment in GWS in September 2019.

OverDrive, a leading digital reading platform for libraries and schools, announced today that it is acquiring Kanopy, the leading video streaming service for public and academic libraries, from L Squared Capital Partners (“L Squared”). The acquisition of Kanopy will bring one of the industry’s most-acclaimed video catalogs to the OverDrive platform to better serve public and academic libraries around the world. Kanopy provides academic institutions and public libraries with an award-winning catalog of over 30,000 highly curated films that inspire, educate and entertain.