LOS ANGELES, Aug. 28, 2017 (GLOBE NEWSWIRE) -- Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has partnered with management to acquire FlexXray LLC (“FlexXray” or the “Company”). FlexXray is the leading provider of x-ray inspection services focused exclusively on food safety. FlexXray assists Fortune 100 food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food. Hundreds of manufacturing plants in North America rely on FlexXray’s industry-leading expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, TX.
The investment in FlexXray will be made out of LLCP Lower Middle Market Fund, L.P.
According to LLCP Partner Bob Poletti, “We are excited to partner with Kevin Fritzmeyer and the rest of the management team who have successfully led the growth of FlexXray. The Company’s high ROI service has entrenched the Company in a critical place in the food safety ecosystem. We look forward to working with management as they continue to expand the business.”
The Company’s management team, led by Kevin Fritzmeyer, will acquire a meaningful ownership stake in the Company in connection with the transaction.
Regarding the transaction, Fritzmeyer commented, “I am delighted to partner with LLCP as FlexXray seeks to realize the significant growth opportunities available to the Company. LLCP’s resources and experience will be critical in the continued development of the Company, and I look forward to leveraging LLCP’s strategic and financial expertise.”
LLCP was advised by Honigman Miller Schwartz and Cohn LLP. FlexXray was advised by Houlihan Lokey Capital, Inc.
For more information, visit http://www.llcp.com.
About Levine Leichtman Capital Partners
LLCP is a Los Angeles, California based private investment firm that has managed approximately $9.0 billion of institutional capital since its inception. LLCP invests in middle market companies located in the United States and Europe. LLCP is currently making new investments through Levine Leichtman Capital Partners VI, L.P., LLCP Lower Middle Market Fund, L.P., Levine Leichtman Capital Partners Private Capital Solutions, L.P., Levine Leichtman Capital Partners Europe, L.P. and LLCP Co-Investment Fund, L.P. LLCP has offices in Los Angeles, New York, Dallas, Chicago, London and The Hague.