LFM Capital has sold Vektek, a Missouri-based maker of hydraulic and pneumatic workholding products. No financial terms were disclosed. Lincoln International acted as the financial advisor to Vektek on the deal.
NASHVILLE, TN – May 10, 2022 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today the sale of Vektek, LLC (“Vektek”). Terms of the transaction were not disclosed.
Vektek, headquartered in St. Joseph, Missouri with a manufacturing facility in Emporia, Kansas, manufactures an extensive product offering of highly engineered hydraulic and pneumatic workholding products including 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 heavy industrial, automotive, rail, agriculture, and aerospace.
Dan Shockley, Managing Director at LFM, commented, “It has been a pleasure partnering with the Vektek team over the past six years to help them achieve growth. Vektek’s products have benefitted by a growing demand for increased manufacturing efficiency, accuracy and automation, and we have enjoyed helping position Vektek as a necessary resource for manufacturers to maximize productivity. ”
LFM acquired Vektek in 2016 and worked with the management team to improve manufacturing processes and focus the company strategy on international market penetration and product expansion. The Company launched 11 new products in 2020 alone, leveraged LFM’s professional networks to attract operating talent, and strengthened key operations.
Vektek President, Troy Estes, added, “We are extremely appreciative of the support and invaluable expertise provided by the LFM team. LFM’s differentiated operational focus and pertinent industry experience enabled us to align immediately on Vektek’s value proposition and strategic vision. We look forward to working with our new partners as we continue to accelerate the Company’s growth strategy.”
LFM Capital Executive Managing Director Steve Cook added, “In the post-pandemic era, the push for industrial automation has penetrated an even deeper cross-section of the manufacturing sector. We are very proud of the company’s growth, especially over the past few years, and wish the team continued success.”
Lincoln International acted as the financial advisor to Vektek and LFM Capital. Bass, Berry & Sims acted as legal counsel to Vektek and LFM Capital.
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, please visit www.lfmcapital.com.