Sentinel Capital Exits LTI Boyd

Sentinel Capital Partners has exited its investment in LTI Boyd, selling the manufacturer of custom engineered components. Terms of the deal were not released. LTI Boyd is based in Modesto, Calif.

 

PRESS RELEASE

Sentinel Capital Partners, a private equity firm that invests in promising, lower middle market companies, today announced the sale of LTI Boyd, a leading global manufacturer and supplier of high performance, custom engineered components for large, multinational OEMs. Terms of the transaction were not disclosed.

 

Based in Modesto, CA, LTI Boyd offers specialized solutions for gasket, sealing, insulation, and impact protection applications in the heavy truck, recreational vehicle, enterprise electronics, off-highway, aerospace, and consumer electronics markets.

 

During Sentinel’s ownership, LTI Boyd’s revenue increased nearly five-fold through organic growth and the completion of three acquisitions.

 

“We are extremely pleased with LTI Boyd’s performance,” said John McCormack, Senior Partner at Sentinel. “We have been fortunate to partner with LTI Boyd’s talented management team and wish them continued success as they enter their next stage of growth.”

 

“Sentinel was an ideal partner for our team,” said Mitch Aiello, LTI Boyd’s CEO. “Sentinel’s support and help was a crucial component of LTI Boyd establishing its leading market position.”

 

In addition to LTI Boyd, Sentinel’s current portfolio includes several leading global industrial companies, including Chromalox, a manufacturer of electric heating products and solutions; Chase Doors, a manufacturer of high‑quality made-to-order specialty door systems; Engineered Controls International, a manufacturer of specialized pressure regulators, valves and other control equipment used in cryogenic gases; and the Colson Group, a manufacturer of casters, wheels, and related hardware products.

 

Robert W. Baird & Co., a Milwaukee, Wisconsin-based investment bank, advised LTI Boyd in the transaction. William Blair & Company, a Chicago, Illinois-based investment bank, served as co-advisor. Kirkland & Ellis LLP served as legal advisor to LTI Boyd.

 

About Sentinel Capital Partners

 

Sentinel Capital Partners specializes in buying and building lower middle market companies in the United States and Canada in partnership with management. Sentinel targets eight industry sectors — aerospace/defense, business services, consumer, distribution, food/restaurants, franchising, healthcare products/services, and industrials. Sentinel invests in management buyouts, purchases of family businesses, corporate divestitures, going-private transactions, and special situations of businesses with EBITDA between $7 million and $35 million. For more information about Sentinel, visit www.sentinelpartners.com.

 

About LTI Boyd

 

Headquartered in Modesto, CA, LTI Boyd provides engineered components to a broad range of end markets, leveraging its comprehensive technical materials and design expertise, world class manufacturing capabilities, and superior supply chain management. With over 80 years of proven performance, LTI Boyd’s highly experienced team offers the industry’s most comprehensive suite of engineered rubber, plastic, metal, and flexible environmental sealing products and services.  LTI Boyd operates seven manufacturing facilities across the United States and in China.