Levine Leichtman Capital Partners (LLCP) has completed its buy of Brass Smith Innovations, a maker of food service equipment.
Brass Smith Innovations (BSI) is a manufacturer of food guards, counters, cold pans, heated merchandisers, floor troughs, and custom stainless products that are sold to companies in the institutional food service sector. The company is led by its president and CEO Tom Kissinger. BSI traces its origins to 1979 when it first manufactured brass beds, and later made brass railings and fittings for restaurants and bars. The company is headquartered in Denver (www.bsidesigns.com).
According to LLCP, BSI has differentiated itself from its competitors by focusing on design, engineering and quality. “We are excited to partner with Tom and the rest of his management team who have built the market leading manufacturer of food shields, custom counters, and related products for the institutional food service industry,” said Lauren Leichtman, Co-Founder and CEO of LLCP.
“I am very excited about this partnership and believe this investment will help BSI further strengthen its market position and advance in its next stage of growth,” said Mr. Kissinger. “LLCP has a long history of being a value-added partner to its portfolio companies, and I look forward to leveraging their strategic, financial and M&A expertise in the years to come.”
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is based in Los Angeles with offices in Chicago, Dallas, New York, London and The Hague (www.llcp.com).
Senior debt for this acquisition was provided by Madison Capital Funding (www.mcfllc.com). BSI was advised by Los Angeles-based investment bank Augeo Advisors (www.augeoadvisors.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-16-16