Generation Growth Capital acquires Innovative Laser Technologies, Inc.

Special to The Freeman

March 14, 2014

MILWAUKEE – Private equity firm Generation Growth Capital, Inc. announced it has acquired Laser Technologies, Inc. in Minneapolis.

ILT is a designer and fabricator of custom laser workstations used to produce high-value, mission-critical components for numerous industries, including medical device, defense, energy and aerospace, according to the announcement from GGC, which invests in lower middle market companies.

“GGC really understands the nature of our business. They recognize the value that we bring to our customers through technical expertise, service, and support,” said Fred Tsuchiya, president and CEO of ILT, in a statement. “Throughout the transaction process GGC recognized the key areas of our business and will provide needed resources to continue to professionalize our company. I look forward to working with GGC to continue ILT’s strong growth.”

ILT’s existing management team will continue to operate the business upon the completion of the transaction, according to the announcement. In addition, GGC intends to make additional investments in the business to support future growth and implement operational best practices.

“ILT has solidified a niche in the custom laser workstation market and through our diligence process we learned that their customers really value the capabilities that ILT possesses. We plan on investing in new systems, processes and people to help manage the growth that the company is experiencing,” said John Reinke, a managing director of Generation Growth Capital, in a statement.

Senior financing was provided by Minnesota Bank & Trust and mezzanine financing was provided by Exmarq Capital Partners, Inc. Terms of the transaction were not disclosed.