Align Capital Partners (ACP) has added on to its portfolio company Lewellyn Technology with the buy of Predictive Service.
Predictive provides enterprise asset management services; predictive maintenance services including infrared inspection and vibration monitoring; and repair and maintenance services to Fortune 1000 companies worldwide. At the center of Predictive’s enterprise asset management services is the company’s ViewPoint software that provides data collection, analysis, and decision-making functionality for customers’ maintenance and repair needs. It allows plant managers to not only prevent equipment failure but also to manage energy and cost savings initiatives in real time.
Predictive, led by CEO Don Frankel, is headquartered in Cleveland with additional offices in North America, South America, Europe and Asia (www.predictiveservice.com). Mr. Frankel and other senior members of management will retain significant leadership roles and ownership positions in the combined company.
ACP acquired a majority stake in Lewellyn (www.lewellyn.com), an Indianapolis-based provider of electrical safety training, hazard assessments, and risk mitigation for Fortune 1000 companies, in November 2017 from Cleveland-based Evolution Capital Partners.
The combination of Lewellyn and Predictive creates a technology-enabled enterprise asset management, predictive maintenance, safety, and repair services platform that can reduce operating costs, improve equipment utilization, and increase the safety of operations for its customers worldwide. Both companies have consistently been represented on Inc. 5000’s “Fastest Growing Private Companies” list.
“This is a truly transformative investment to our existing Lewellyn platform,” said ACP Managing Partner Chris Jones. “Predictive’s operational efficiency value proposition, combined with Lewellyn’s safety-focused suite of services, creates a unique single source service provider in the enterprise asset management and safety services industry. Both companies’ leadership teams bring different expertise to bear and combine for the optimal foundation for future growth.”
“I have known Don for many years, so I’m excited to partner with him and the Predictive team to create a leading operational efficiency and safety services platform,” said Lewellyn CEO Mike Vea. “I’m confident that customers will find great value in the combination of our highly skilled safety and reliability specialists, alongside a robust technology platform.”
Working alongside Chris Jones on this transaction were Operating Partner John Dupuy, Vice President Matt Beesley, and Senior Associate Kurt Smentek.
Align Capital Partners makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include specialty manufacturing, distribution and business services. The firm was founded in 2016 by managing partners Steve Dyke, Robert Langley, and Chris Jones – all formerly of The Riverside Company – and has offices in Cleveland and Dallas (www.aligncp.com).
ACP is continuing to seek add-on acquisitions of niche predictive maintenance and safety service providers.
© 2018 Private Equity Professional | September 11, 2018