Littlejohn Capital has acquired Western Industries Plastic Products from Speyside Equity.
Western Industries is a designer and manufacturer of large blow-molded finished products and components used by OEMs in the industrial, furniture, sports and leisure, transportation, and lawn and garden sectors. The company also offers assembly, packing, logistics, and supply chain management services. Western Industries was founded in 1987 and is headquartered near Wichita in Winfield, KS (www.westernind.com).
“Western has a unique competence in large blow molding and manufactures some of the largest and most complex products in the industry,” said Angus Littlejohn Jr., founder and chairman of Littlejohn Capital. “The company’s complex blow molding machines offer extraordinary manufacturing and product flexibility to handle virtually any blow molded product size, shape or complexity and serves as a critical supplier and one-stop strategic partner to many of its customers.”
Littlejohn Capital makes control investments of $5 million to $15 million in companies that have from $2 million to $12.5 million of EBITDA and are undergoing strategic, operational or generational transition. Sectors of interest include manufacturing, fabrication, processing, logistics, materials and services. Littlejohn Capital, headquartered in Savannah, GA, is the family office of Angus Littlejohn Jr., co-founder of Littlejohn & Co., where he currently serves as chairman (www.littlejohncapital.com).
“Western’s turnkey solutions and manufacturing capability position the company very well to participate in the sustained growth of the blow molded plastics market and the positive dynamics within its end markets. There are a number of near-term strategic growth opportunities with new and existing customers that management expects to capitalize on, and we look forward to partnering with them attain to attain its goals,” said Angus Littlejohn III, director of Littlejohn Capital.
Littlejohn Capital’s investment in Western Industries was made through LJC Investments IV LLC.
Speyside Equity (www.speysideequity.com), the seller of Western Industries, acquired the company in December 2016 from Graham Partners.
© 2019 Private Equity Professional | March 15, 2019