LFM Capital has made an investment in Washington-based Rainier Industries. a maker of residential and commercial shade, shelter, and display solutions. No financial terms were disclosed.
NASHVILLE, TN – October 12, 2021 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that it has invested in a new portfolio company, Rainier Industries (“Rainier”). Terms of the transaction were not disclosed.
Rainier is a leading manufacturer of residential and commercial shade, shelter, and display solutions, including power screens, retractable awnings, commercial tents, retail displays, and branded environments, that are sold through a nationwide dealer network. The company traces its roots to 1896, when it started producing tents for prospectors traveling north to the Klondike during the Alaskan Gold Rush. Rainier has approximately 250 employees across its headquarters in Tukwila, Washington and the second manufacturing facility in Statesville, North Carolina.
Scott Campbell, whose family has stewarded the business for the last five decades, commented, “Our family has grown Rainier by providing high-quality solutions for our customers. We are thrilled about the partnership between LFM and Rainier and I look forward to continuing to be involved as a minority owner and on the board. LFM’s manufacturing expertise really set them apart as I was looking for a new steward for the business, and I truly believe they will help take Rainier to the next level.”
LFM Operating Partner Ken Hoefling added. “We are excited to partner with a company that has such a rich history. We are extremely well-aligned from a cultural perspective, and we were incredibly impressed by the capabilities and possibilities of Rainier’s vertically integrated manufacturing processes.”
In connection with the new partnership with LFM, Rainier announced that Chris Inverso, who has been with Rainier since 2014 as CFO and then General Manager, will be promoted to CEO. Chris commented, “Scott Campbell set a high bar for serving Rainier’s customers and employees, and he did so in an authentic and personal way. I’m humbled to follow in his footsteps and lead Rainier into the future, and I couldn’t imagine a better partner than LFM Capital.”
“Rainier has a tremendous track record of success, and we are excited to build on that legacy. Rainier’s products are differentiated in the marketplace and serve a wide variety of attractive end markets,” added LFM Managing Director Chris Lin. He continued, “We look forward to partnering with Chris Inverso and the incredible team at Rainier to leverage that solid foundation to drive growth and operational excellence.”
Senior Associate Tucker Cowden worked with Lin and Hoefling on the investment from LFM and Jessica Ginsberg, LFM Director of Business Development, helped source the opportunity.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team 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 targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, visit www.lfmcapital.com.