LLR Partners has announced its investment in Allmark Door, a manufacturer and distributor of industrial and commercial doors.
Allmark’s products include high-speed doors, pedestrian and traffic doors, insect control barriers, cold storage doors, loading dock equipment, commercial acoustic doors, and security gates.
Allmark was founded in 1993 by Gilbert Markham and has completed more than 200,000 installations across the Northeastern United States for companies that are active in the logistics and distribution, food and beverage, pharmaceutical, utilities, transportation and industrial sectors. Allmark is headquartered near Newark in Springfield, New Jersey.
“We are thrilled to partner with the LLR team,” said Andrew Markham, the general manager of Allmark. “The firm’s partnership-driven approach and experience helping businesses like ours grow come at an important time, as we look to invest in our technical resources, expand into new geographies and strengthen our competitive advantage.”
In tandem with its acquisition of Allmark, LLR has named Tom Woodruff as the company’s new chief executive officer. Prior to joining Allmark, Mr. Woodruff was the chief operating officer of Reedy Industries, a Chicago-based provider of commercial HVAC services and mechanical services to commercial, industrial, and municipal buildings. Reedy Industries was acquired by Audax in 2019 and was sold to Partners Group in June 2021. Earlier in his career, Mr. Woodruff held senior positions with ABM Industries and Honeywell International.
“We are excited to welcome Tom to the Allmark family,” said Mr. Markham. “Tom brings a strong background in operational and sales excellence as well as a customer-first mentality to the team. We have confidence that Tom, alongside the support of LLR, will help propel the company through its next stage of growth.”
“Heightened supply chain complexity, rapid growth in e-commerce and the proliferation of distribution centers has significantly increased the installed base of and the resulting wear and tear on loading docks and commercial doors,” said Katie Lankalis, a vice president at LLR. “Amid this growing need for service, we are excited to partner with Allmark as the company continues to help ensure that its customers receive superior support to maintain facility uptime.”
Philadelphia-based LLR makes minority or majority investments from $25 million to $200 million in companies active in the education, financial, healthcare, security, and software sectors. In October 2020, LLR held a final closing of its latest fund, LLR Equity Partners VI LP, with $1.8 billion in capital.
© 2022 Private Equity Professional | June 7, 2022
