MPE Partners Announces Investment in LA-CO Industries

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Jul 23, 2024, 14:17 ET

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.

SOURCE MPE Partners