Private equity firm Littlejohn is adding another industrial manufacturing play to its portfolio, acquiring 80/20 from MPE Partners in a deal announced Tuesday.
If you've never heard of 80/20, they're not making smartphones or selling ads. The Indiana-based company builds configurable modular framing systems—think industrial-strength Legos for factory automation. Their products serve automation, productivity, and safety applications across a wide range of industries, and they've built up a loyal customer base that keeps coming back.
Steven Kalter, managing director at Littlejohn, sounds pretty enthusiastic about the acquisition. "We are thrilled to partner with 80/20 and its dedicated team as they continue to build a market-leading automation platform," he said in a press release. "The Company's custom design tools, comprehensive product offering, and national footprint position it as a highly valued partner to their long-tenured customer base."
The deal's financial terms stayed under wraps. Jefferies advised Littlejohn on the transaction, while Baird led the advisory team for 80/20 with Houlihan Lokey providing additional support. McDermott Will & Schulte handled legal work for Littlejohn.
Doug Waldal, CEO of 80/20, pointed to Littlejohn's manufacturing chops as a selling point. "Littlejohn has a strong track record of supporting and scaling manufacturing and distribution businesses, and we are excited to have them as partners at this stage in the Company's evolution," he said. "We look forward to leveraging Littlejohn's portfolio support resources to accelerate our growth while maintaining best-in-class quality and service levels for our customers."
Littlejohn, based in Greenwich, Connecticut, focuses on middle-market industrial and services companies through private equity and debt investments. The firm manages approximately $8 billion in regulatory assets.
