LOS ANGELES–(BUSINESS WIRE)–Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, today announced the acquisition of Technical Safety Services (“TSS” or the “Company”) from The Edgewater Funds and JZ Partners. Financial terms of the transaction were not disclosed.
Founded in 1970, TSS is a leading provider of Testing, Inspection, Certification and Calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare and other life sciences end markets. life. Based in La Jolla, California, TSS provides mandated on-site technical services at regular intervals to ensure that all customers remain in compliance with regulatory standards. TSS services are performed throughout the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, biosafety cabinets, medical gas systems, high-pressure water systems. purity, laboratory equipment and more.
“We are delighted to partner with TSS, a leading provider of TICC services in the highly attractive healthcare and life sciences end markets,” said Matthew Rich, Partner at LLCP. “Our team has been impressed with TSS’s ability to deliver services that meet the highest regulatory standards and deliver top-notch customer service to its clients. We are excited to work with the management team to leverage TSS’ recent impressive growth through additional strategic mergers and acquisitions and the expansion of the company’s services into new geographies, both domestically than international.
CEO Brent Hart will continue to lead TSS under LLCP ownership. Mr. Hart has been part of the TSS team for nearly 20 years and has led the company’s strategic expansion, including the completion of more than 20 add-on acquisitions since 2018, and the substantial expansion of client relationships. and geographic presence.
“I am delighted that TSS is partnering with LLCP as the company embarks on its next stage of growth. LLCP understands our business model and shares our vision to grow our customer service and management practices, seek cross-selling opportunities, make strategic acquisitions and enter untapped geographies,” said Mr. Hart. “LLCP has a proven track record as a great partner to executive teams with a focus on brand building, customer engagement and service offerings. We look forward to leveraging their industry knowledge and operational expertise in TSS’s next phase of growth.
TSS is the ninth investment in the platform from Levine Leichtman Capital Partners Fund VI, LP Across its funds, LLCP has invested heavily in the services, testing, security and healthcare sectors, including including investments in companies such as Trinity Consultants, FlexXray, Encore Fire Protection, Onsite Machining, Smith System, Center for Therapeutic Research and Monte Nido.
Kirkland & Ellis LLP acted as legal counsel to LLCP on the transaction.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with 39 years of investment experience across a variety of focused industries, including franchising, business services, education, and engineered products. LLCP employs a differentiated structured private equity investment strategy, combining debt and equity investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while generating growth and revenue with a significantly lower risk profile.
LLCP’s global team of dedicated investment professionals is led by nine associates who have been with LLCP for an average of 19 years. Since its inception, LLCP has managed approximately $12.9 billion of institutional capital across 15 investment funds and has invested in more than 100 portfolio companies. LLCP currently manages $9.0 billion in assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.