Akoya Capital Partners LLC and Landon Capital Partners LLC have acquired Higginsville, Missouri-based TTG Inc, a maker of waterproof membranes. No financial terms were disclosed. Wintrust Bank provided senior debt for the transaction.
April 3, 2019. Akoya Capital Partners, LLC (“Akoya”) and Landon Capital Partners, LLC (“LCP”) in partnership with current management, has acquired TTG, Inc. (“Trinity Technology Group”, “TTG”, or the “Company”), one of the leading manufacturers of waterproof membranes. Located in Higginsville, MO, TTG is committed to providing innovative, premium quality expanded polytetrafluoroethylene (ePFTE) membranes and laminates and related services through process excellence and the execution of partnerships with customers and suppliers throughout the world.
Greg Vas Nunes, Akoya’s Specialty Chemicals Managing Director, will serve as Chairman of the Board. “The TTG executive team brings a rich, extensive background and depth of expertise in leveraging 50 years of experience to provide innovative, high quality ePTFE solutions to the filtration and fabric markets. We are thrilled to work with the existing management team in growing and expanding the Company’s product lines, customer relationships and geographic footprint,” said Greg Vas Nunes.
TTG is Akoya’s 15th platform investment, 2nd investment partnering with Landon and 3rd consecutive investment partnering with family offices. Akoya is successfully executing its strategy of partnering with family offices and will continue to do so for future platform acquisitions. “The TTG acquisition is consistent with our investment strategy of combining world-class executives, well-positioned companies, and fully developed value creation strategies to create significant value for management and investors. We were delighted to partner with LCP on this transaction as they have proven to be a value-added investor and strategic partner,” said Max DeZara, Managing Partner of Akoya.
Wintrust Bank provided senior debt for the transaction.
About Akoya Capital Partners
Akoya Capital is a sector focused independent sponsor that creates and nurtures partnerships between management and capital. With industry leading sector leaders, proprietary platform organizations, experienced management teams and co-investors, we collaborate on compelling value creation opportunities. Together, we develop and execute industry sector acquisition strategies that deliver significant, measurable value for management, partners and shareholders. Led by the industry knowledge of our sector leaders, and CEO’s, we are highly selective in the sector-based investments we pursue. This exclusivity allows us to work with the finest companies from each industry.
We currently focus on investments in the following sectors:
· Industrial – Specialty Chemicals, Industrial Products & Distribution
· Consumer – Foods & Products
· Professional Information Services
Ideal Target Company Characteristics:
· $20 million to $150 million of sales
· $3 million+ of EBITDA
· Family held, owner/operator run, corporate carve-outs
· Management wants to remain with the business in some role & open to re-investment
About Landon Capital Partners
Landon Capital Partners (“LCP”) is the direct private equity investment group of the Landon family and its select family office co-investment partners. LCP invests in middle market private equity opportunities primarily in the United States. Our mission is to source, acquire, and manage lower middle market private equity buyouts, targeting opportunities for control equity positions in companies with $5 to $20 million of EBITDA. Preferred LCP investment targets display a high percentage of recurring revenue and strong free cash flow conversion and seek to leverage LCP’s flexible approach to partnership and long-term growth orientation. LCP began operations in 2015 and has offices in Boston and London. For more information, visit www.landoncapital.com
About Trinity Technology Group
Trinity Technology Group is a specialty chemicals company headquartered in Higginsville, Missouri, that specializes in manufacturing and marketing expanded polytetrafluoroethylene (ePTFE) membrane for apparel companies, filter companies and specialty membrane producers. For more information, visit www.ttgtech.net