110 Views

Levine Leichtman Capital exits Dexter Magnetic

Levine Leichtman Capital Partners said Monday it closed the sale of Dexter Magnetic Technologies to Robert Family Holdings Inc. Financial terms weren’t announced. Elk Grove Village, Illinois-based Dexter designs, makes and provides highly-engineered magnetic solutions. Lazard Middle Market LLC advised Dexter.

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LLCP’s Smith completes dividend recap

Smith System Driver Improvement Institute, a portfolio company of Levine Leichtman Capital Partners, has completed a dividend recap. Bank of Ireland provided a $35 million senior credit facility for the transaction. Based in Arlington, Texas, Smith is a provider of accident avoidance training for fleet vehicle drivers.

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Inverness Graham completes Nobles Worldwide sale

Inverness Graham Investments has sold NOBLES Worldwide, Inc. Based in St Croix Falls, WI, Nobles is provides flex chutes that are used in a variety of air, naval and ground military applications. Levine Leichtman Capital partnered with management to acquire the business.

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New Mountain, Levine Leichtman Hit Fundraising Trail for New Pools

The fundraising market may be difficult but that’s not stopping New Mountain Capital and Levine Leichtman Capital. New Mountain is officially out marketing for a $3 billion fund, while Levine Leichtman is seeking $1.5 billion for its latest structured pool which may be increased to $2 billion.

Levine Leichtman Exits Harlow’s Casino

Consumer-centric private equity firm Levine Leichtman exited its Harlow’s Casino Resort & Hotel investment, selling the gaming business to listed, Kentucky-based Churchill Downs Inc. in a $138 million deal. Houlihan Lokey advised on the transaction. The sale netted the sponsor a 29% IRR and a 2.3x cash-on-cash return. The deal is the second of two exits for the private equity firms in the gaming space. Previously, Levine Leichtman also held a stake in Mikohn Gaming Group.

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