MILWAUKEE, July 23, 2024 – MPE Partners (“MPE” or “Morgenthaler Private Equity”) has announced the recapitalization of LA-CO Industries, Inc. (“LA-CO”). Based in Elk Grove Village, IL and founded in 1934, LA-CO is a fourth-generation, family-owned global company specializing in the manufacturing of industrial hand-held markers, plumbing chemicals, temperature indication tools, sterilization inks and livestock identification products. MPE’s investment positions LA-CO for accelerated growth while ensuring the Company remains an industry leader, an employer of choice, and a strategic partner for its customers. Benjamin Kleiman, a fourth-generation family member, will maintain ownership and continue to serve as CEO and assume a role as Board Member of LA-CO. Terms of the transaction were not disclosed. Grace Matthews, Inc. (“Grace Matthews”) served as financial advisor to LA-CO on the transaction.
Graham Schena, Partner at MPE, said, “We are thrilled about our investment in LA-CO Industries and partnership with Benjamin and the rest of the management team. Since its founding over 90 years ago, the Company has established a market leading position driven by its wide breadth of high-quality, performance-based products all while delivering premier customer service.” Brendan Newman, Vice President at MPE, added, “We are looking forward to partnering with Benjamin and the rest of the management team to pursue an aggressive organic growth strategy as well as to execute and integrate complementary add-on acquisitions, maintaining the strong culture and commitment to its customers that has made LA-CO so successful.”
“I am incredibly excited for the future of LA-CO Industries with the investment from MPE, a strong partner that closely aligns with our vision for growth and greater success,” said Benjamin Kleiman. “The partnership recognizes LA-CO’s 90 years of industry-leading success as a catalyst for development of new products and opportunities for growth across the globe to take the company into a new era of success.”
ABOUT LA-CO INDUSTRIES
LA-CO Industries, Inc. specializes in the design and manufacturing of high-quality, performance-based products for customers’ unique applications. LA-CO supports hardworking contractors that build the world’s great bridges, ships, automobiles, homes, office towers, power plants, and many other engineering marvels. For more information, visit www.lacoindustries.com.
ABOUT MPE PARTNERS
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $8 million and $40 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, visit www.mpepartners.com.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and material science value chain. Over the past 25 years, Grace Matthews has successfully completed over 150 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, visit www.gracematthews.com.