LLCP acquires Milton Industries

Levine Leichtman Capital Partners was advised by Honigman LLP in the transaction.

Levine Leichtman Capital Partners has acquired Chicago-based Milton Industries Inc, a provider of highly-engineered tools and accessories for pneumatic applications across a variety of end markets. No financial terms were disclosed. Honigman LLP advised LLCP on the deal while Baird served as financial adviser to Milton.


LOS ANGELES, Nov. 22, 2019 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced that it has partnered with management to acquire Milton Industries, Inc. (“Milton” or the “Company”).
Milton is a leading provider of highly-engineered tools and accessories for pneumatic applications across a variety of end markets, including vehicle service, industrial MRO, aerospace and defense, and agriculture. The Company has over 1,600 SKUs with products including couplers, gauges, chucks, blow guns, filters, regulators, and lubricators. Milton was founded in 1943 and is based in Chicago, Illinois.

According to Micah Levin, a Managing Director of LLCP, “We are excited to partner with the management team of Milton which has led the Company’s growth over the past several years and solidified its position as a market leader in pneumatic products. We look forward to collaborating to deliver a successful outcome for all.”
Greg Carlson, CEO of Milton, commented, “My team and I are thrilled to partner with LLCP to enhance Milton’s market-leading position. LLCP’s experience with similar business models will be valuable to our continued development, and I look forward to the next chapter of growth for Milton.”

The investment in Milton will be the sixth from LLCP Lower Middle Market Fund, L.P. LLCP was advised by Honigman LLP. Baird served as financial advisor to Milton.
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About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 35-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.

LLCP’s global team of dedicated investment professionals is led by six partners who have worked together for an average of 22 years. Since inception, LLCP has managed over $10.7 billion of institutional capital across 14 investment funds and has invested in over 80 portfolio companies. LLCP currently manages $6.4 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, Dallas, Chicago, Charlotte, London, Stockholm and The Hague. For more information, visit