Kansas City-based private equity firm Great Range Capital has acquired specialty transportation company LLL Transport. Terms of the deal were not released. LLL Transport is based in Brookfield, Mo., and employs roughly 130 people.
Kansas City private equity firm Great Range Capital (GRC) announced today that it has acquired LLL Transport out of Brookfield, MO, a specialty transportation company employing more than 130 people across the Midwest.
Founded by Ryan Sprott and Paul Maxwell, GRC primarily targets controlling equity investments in Midwestern companies with revenues of $10 to $150 million.
“LLL Transport fit squarely with our investment criteria and performed extremely well through the recent recession,” said Sprott, Managing Partner. “And with additions to the management team, the company is poised for continued profitable growth.”
In completing the transaction, GRC worked closely with three operating executives with extensive experience in transportation, logistics, and biofuels. These industry veterans are assuming executive operating positions at LLL Transport following the transaction.
“The LLL Transport acquisition is an excellent example of the opportunity for Great Range Capital and private equity in the Midwest,” said Maxwell, Managing Partner. “There are many great Midwestern businesses, but the region is undercapitalized with private equity relative to the rest of the country.”
GRC is backed in part by the Brandmeyer family, who acquired, managed, and ultimately sold Enturia (formerly known as Medi-Flex Inc.). The Brandmeyers have committed more than $25 million to GRC and its first fund.
“I have long believed that the Midwest is an attractive market for regional private equity,” said Joe Brandmeyer. “Having conducted business here for many years, I know how important relationships
are to investors, management teams, and business owners in the Midwest. Paul and Ryan have incredibly impressive backgrounds with institutional grade experience at top-tier firms, but they are also Kansas Citians. They know this community and region, and they understand its potential.”
The founders of Great Range Capital have over 25 years of experience with firms including: DLJ Merchant Banking Partners, Credit Suisse, Monitor Clipper Partners, Fenway Partners and Salomon Smith Barney. Both University of Kansas graduates, Sprott and Maxwell returned to the Midwest from the east coast to start GRC. The firm is supported by an impressive Advisory Board along with a Vice President and an Associate who were recruited to GRC from firms in Atlanta and Chicago, respectively.
About Great Range Capital
Based in Kansas City, Great Range Capital is focused on middle-market, control, private equity investing in the Midwest. Transaction structures include leveraged and management buyouts, recapitalizations, build-ups, growth financings, and structured equity. GRC primarily targets companies in the industries of business and industrial services; healthcare services/devices; retail and consumer; established media; and niche manufacturing. With committed capital and a team of experienced investment professionals, GRC is well-positioned to capitalize on private equity opportunities in the Midwest.