Levine Leichtman Capital Partners has completed the sale of Luminator Technology Group, a manufacturer of lighting systems, to Audax Group.
Luminator Technology Group is a designer and manufacturer of display, lighting and passenger communication systems used in bus, rail and aerospace applications. Customers include municipal transportation systems, OEMs and their related suppliers. Luminator is based in Plano, TX (www.luminatortechnologygroup.com).
“Avi Zisman (CEO) and the rest of the Luminator management team have done an exceptional job creating value since our initial investment in October 2010,” said Lauren Leichtman, CEO of LLCP. “The company’s success in driving organic growth through innovation and integrating transformative acquisitions resulted in a truly exceptional outcome for all of the company’s stakeholders including LLCP, our partners and the company’s management team.”
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).
“LLCP’s involvement with us in completing two highly strategic acquisitions, arranging multi-currency financings and supporting our organic growth initiatives all helped facilitate the rapid expansion of our business,” said Mr. Zisman.
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. Audax has over $5 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).
Robert W. Baird & Co. served as financial advisor and Weil, Gotshal and Manges served as legal advisor to Luminator in connection with this transaction.
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-8-14