LEHR, a portfolio company of Solis Capital Partners, has acquired EnviroGard – a provider of propane fuel system technology for small engines – from Onyx Environmental Solutions.
EnviroGard manufactures and supplies propane fuel systems and engines for use in a variety of industrial applications. The company sells its products through a network of dealers that perform aftermarket repowers and conversions of gasoline engines to propane. The company is headquartered in Charlotte, NC (www.envirogard.com).
LEHR, acquired by Solis in September 2014, is a manufacturer of propane powered outboard marine engines. The company is headquartered in Los Angeles (www.golehr.com). “EnviroGard is the perfect strategic fit for LEHR, as it complements our current propane engine technology and expands our footprint from marine into industrial and lawn & garden applications,” said Captain Bernardo Herzer, founder and CEO of LEHR.
Solis Capital Partners invests from $2 million to $25 million in companies with revenues between $15 million and $100 million that operate in the business services, niche manufacturing, and software sectors. Target companies are typically headquartered in the Western United States. Solis is actively investing through Solis Capital Partners II which closed in May 2013. The firm has offices in Newport Beach and San Diego (www.soliscapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-24-15
