Levine Leichtman Capital sold Jonathan Engineered Solutions to JLL Partners. The company designs and manufactures highly engineered steel and aluminum mechanical components for defense, commercial and industrial end markets. Levine Leichtman first invested in 2016.
Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company Jonathan Engineered Solutions (“JES” or the “Company”) to JLL Partners.
JES, based in Irvine, CA, is the global market leader in the design and manufacturing of highly engineered steel and aluminum mechanical components for defense, commercial and industrial end markets. With a legacy that spans nearly 70 years, the Company’s ruggedized enclosure solutions protect operating systems in aircraft, naval ships and submarines for the U.S. military and its allies.
Micah Levin, a Senior Managing Director at LLCP, said, “The JES investment has been very successful for LLCP, our partners and the Company’s management team. Since our initial investment in 2016, we are proud to have enhanced the value of JES by investing in a best-in-class management team, driving growth and diversification organically and through acquisitions, expanding the product suite and implementing operational improvements. JES has an exciting future, and we wish the team continued success.”
Jason Cianciarulo, CEO of JES, commented, “It has been a true pleasure partnering with the LLCP team through this time of unprecedented growth. We appreciate their support and expertise in advancing our strategic initiatives, their unwavering confidence in our management team and the capital they provided to acquire complementary businesses. We have benefitted significantly from our collaboration and are excited to enter the next phase of growth.”
Harris Williams served as lead financial advisor with Stifel serving as co-advisor. Kirkland & Ellis served as legal advisor to JES in connection with the transaction.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 37-year track record of investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.
LLCP’s global team of dedicated investment professionals is led by seven partners who have worked together for an average of 21 years. Since inception, LLCP has managed approximately $11 billion of institutional capital across 14 investment funds and has invested in over 90 portfolio companies. LLCP currently manages approximately $7 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.