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
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.