LFM Capital has made an undisclosed investment in Vektek. Based in St. Joseph, Missouri, Vektek is a maker of hydraulic clamps.
NASHVILLE, TN – August 18, 2016 – LFM Capital, a private equity firm focused on growth oriented, lower middle market manufacturing and industrial services businesses, announced today that it has invested alongside management in Vektek, LLC. Vektek is a market leading designer and manufacturer of hydraulic clamps and related products that are used to secure parts during the metal cutting process associated with CNC (Computer Numeric Control) machining.
Vektek, headquartered in St. Joseph, Missouri with a manufacturing facility in Emporia, Kansas, manufactures an extensive product offering of highly-engineered workholding products including hydraulic clamps, work supports, cylinders, valves, and power supplies. Vektek serves a loyal, highly diverse, and global customer base comprised of both end users and fixture builders in a wide range of industries including automotive, rail, agriculture, and aerospace. LFM is partnering with Troy Estes, Vektek’s CEO, who has 17 years of tenure at Vektek and leads an experienced management team.
LFM Capital Executive Managing Director Steve Cook stated, “We are excited to partner with Troy and the Vektek team. Vektek is exceptionally well-positioned in a highly attractive niche market with significant growth opportunities both domestically and internationally. Vektek’s products are mission critical to high-volume precision machining processes and help customers meet the demands for increased manufacturing efficiency and automation. We look forward to supporting what the team has done so well, while also being a resource to accelerate growth.”
Estes commented, “We are extremely proud of Vektek’s history. Our emergence as a market leader is a testament to the hard-working nature of the team coupled with excellent customer service, high quality products, and industry-leading product innovation. We are enthusiastic about partnering with LFM because their operational backgrounds in industries relevant to our customers allowed them to keenly understand our market, value proposition, and vision. We believe LFM is uniquely positioned to collaborate with us as we take Vektek to the next level.”
LFM’s growth initiatives for Vektek include strengthening operations through investments in manufacturing capacity, leveraging LFM’s professional networks to attract sales opportunities and operating talent, and guiding the expansion of Vektek’s international presence.
“We are always excited about the opportunity to invest in U.S. manufacturing companies that offer productivity enhancing products or solutions like Vektek. Reliable products that increase machining precision and accuracy are necessary as manufacturers increasingly look to automate their processes. Vektek is extremely well-positioned not only to benefit from those trends, but also to drive them,” Cook concluded.
About Vektek, LLC
Vektek is a market leading designer and manufacturer of hydraulic clamps and related products that are used to secure parts during the metal cutting process associated with CNC machining. Headquartered in St. Joseph, Missouri, with a manufacturing facility in Emporia, Kansas, Vektek’s extensive product offering of highly-engineered workholding products includes hydraulic clamps, work supports, cylinders, valves, and power supplies. Vektek serves a loyal, highly diverse, and global customer base primarily comprised of end users that machine high-volume precision parts themselves and fixture builders that manufacture and assemble workholding devices that are sold to end users. Vektek’s products serve a wide range of industries including automotive, rail, agriculture, and aerospace. Troy Estes, CEO, has 17 years of tenure at Vektek and leads an experienced management team. For additional information, please visit www.vektek.com.
About LFM Capital
LFM Capital is a Nashville-based private equity firm focused on private lower middle-market U.S. manufacturing and industrial services companies with outstanding growth prospects. LFM currently manages a $110 million private equity fund that targets lead or control investments in market-leading niche manufacturing and industrial services companies with enterprise values in the range of $15 million to $75 million. LFM is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle-market investing. LFM partners with management teams to drive business value through a combination of manufacturing and operations excellence, world-class executive management, and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.