Levine Leichtman Capital Partners has acquired The Colt Group in partnership with management, expanding the private equity firm’s portfolio of infrastructure and mission-critical industrial services businesses.
Founded in 1981 and headquartered in Pasadena, Texas, Colt provides specialized emergency repair and asset integrity services to industrial and municipal customers nationwide.
Its capabilities include online leak repair, hot tapping, line intervention and field machining, services designed to allow customers to repair and maintain critical infrastructure without costly unplanned shutdowns.
Colt combines a national service network with in-house engineering and manufacturing capabilities.
LLCP plans to invest in the company’s people, technical capabilities and geographic footprint as it looks to expand Colt’s position across industrial infrastructure markets.
The transaction has been structured as a partnership with existing management.
CEO Jason Box and Colt’s current executive team will continue leading the company and will remain significant investors in the business.
Colt represents the fifth platform investment made by Levine Leichtman Capital Partners VII.
LLCP has significant prior experience investing in infrastructure-related services through companies including USA Water, In-Place Machining, USA Industries, All4 and Trinity Consultants.
The transaction adds another business built around recurring demand for maintenance, reliability and emergency response capabilities across infrastructure-intensive customer environments.
LLCP has managed approximately $20.6 billion of capital across nearly 20 investment funds since inception and invested in approximately 120 portfolio companies.
The firm currently manages approximately $15 billion of assets and operates offices across the U.S. and Europe.
Harris Williams and Kirkland & Ellis advised LLCP. Houlihan Lokey and Willkie Farr & Gallagher advised Colt.
KEY QUOTES:
“Colt has built a market-leading platform distinguished by its technical expertise, exceptional customer service, and mission-critical value proposition.”
Matthew Rich, Partner At Levine Leichtman Capital Partners
“We are eager to leverage their industry knowledge, expertise, and resources to drive our next phase of growth, while maintaining the responsiveness and technical expertise our customers rely upon every day.”
Jason Box, CEO Of The Colt Group
