Levine Leichtman Capital Partners Sells FlexXray
Levine Leichtman Capital Partners has sold its portfolio company FlexXray Holdings, LLC to Warburg Pincus and Tilia Holdings. FlexXray is a provider of x-ray inspection services focused on food safety, headquartered in Arlington, Texas.
Matthew Rich, Senior Managing Director of LLCP, said, “Randy Jesberg and the entire FlexXray team have built an exceptional, differentiated business through an unwavering commitment to helping the world’s largest food manufacturers keep their products and their customers safe. Following our initial investment in 2017, the Company made significant investments in management, sales & marketing, technological capabilities, and capacity. In addition, we were successful in completing two add-on acquisitions, which expanded FlexXray’s geographic reach, broadened its service offerings and enhanced its ability to better serve customers nationally. FlexXray is positioned for continued success under its new ownership.”
The sale of FlexXray is LLCP’s seventh recent exit, following Trinity Consultants, Nothing Bundt Cakes, ZorgDomein, Jonathan Engineered Solutions, Futurewhiz and Pacific Handy Cutter.
Houlihan Lokey Capital, Inc. served as the lead financial advisor to FlexXray, with support from Robert W. Baird & Co., Incorporated, and Honigman LLP served as legal counsel in connection with the sale. Financial terms of the transaction were not disclosed.
© The Sortino Group Ltd
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.