LLCP Acquires Pneumatic Tool Maker

Levine Leichtman Capital Partners (LLCP) has purchased Milton Industries from Crimson Investments which acquired the company in June 2012.

Milton Industries provides pneumatic tool accessories for professional users within the auto aftermarket, industrial, farm and fleet, and military markets. The company’s products include more than 1,600 SKUs of “Kwik-change” couplers, gauges, chucks, blow guns, filters, regulators, and lubricators.

Chicago-based Milton was founded in 1943 by Milton Price and Milton Goldish and today is led by CEO Greg Carlson. “My team and I are thrilled to partner with LLCP to enhance Milton’s market-leading position. LLCP’s experience with similar business models will be valuable to our continued development, and I look forward to the next chapter of growth for Milton,” said Mr. Carlson.

“We are excited to partner with the management team of Milton which has led the company’s growth over the past several years and solidified its position as a market leader in pneumatic products,” said Micah Levin, a managing director of LLCP. “We look forward to collaborating to deliver a successful outcome for all.”

LLCP invests in middle-market companies located in the United States and Europe. The investment in Milton will be the sixth from LLCP Lower Middle Market Fund LP. LLCP is based in Beverly Hills with offices in New York, Dallas, Chicago, Charlotte, London, Stockholm and The Hague.

San Francisco-headquartered Crimson invests in manufacturing and services companies that have EBITDA of $5 million to $40 million.

Baird was the financial advisor to Milton on this transaction.

© 2019 Private Equity Professional | November 25, 2019

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