Pacific Handy Cutter, a portfolio company of Levine Leichtman Capital Partners, has acquired certain assets of Molding Solutions related to the production of highly engineered plastic injection molded products for safety cutters. No financial terms were disclosed.
LOS ANGELES, Jan. 7, 2020 /PRNewswire/ — Pacific Handy Cutter (“PHC”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has acquired certain assets of Molding Solutions (“MSI”) related to the production of highly engineered plastic injection molded products for safety cutters.
PHC is the leading supplier of specialized safety cutting tools and replacement blades to a diverse range of end markets. The company is a recognized leader in the industrial safety market for standardizing the method of opening corrugated packaging and providing products that are engineered to eliminate workplace injuries, reduce damaged merchandise and improve productivity. PHC was founded in 1950 and is headquartered in Irvine, California.
Mark Marinovich, CEO of Pacific Handy Cutter, commented, “We are thrilled to add MSI’s industry leading capabilities, which will shorten the timeline for bringing new products to market and strengthen our already excellent product quality. This acquisition is a great opportunity to better serve our valued customers.”
Matthew Frankel, a Partner with LLCP, stated, “We are pleased to demonstrate our continued support of PHC through this acquisition. Combining PHC’s industry leading product suite with MSI’s plastic injection molding capabilities is an excellent match. We remain focused on building value for the benefit of PHC’s customers and employees.”
PHC is a portfolio company of Levine Leichtman Capital Partners Small Business Fund, L.P.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 36-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.