NEW YORK–(BUSINESS WIRE)–Delos Capital (“Delos”) and The Silverfern Group (“Silverfern”) announced today that they have partnered with the management team of Le Sueur Incorporated (“LSI” or the “Company”) to complete the acquisition of the Company. Ironwood Capital and Genesis Park provided debt and equity investments in support of the transaction.
LSI, based in Le Sueur, MN, is a leading supplier of complex and pressure-tight aluminum castings and plastic injection molding components. LSI specializes in utilizing permanent mold, sand casting, die casting, plastic injection molding, and precision machining manufacturing processes, with its dedicated engineering team to provide customers with the most cost-effective method of manufacturing.
“We are excited to partner with Silverfern and the management team of LSI, a leading provider of complex precision aluminum casting and plastic injection molding components,” said Michael Rakiter, Partner at Delos Capital. “We are honored to continue the legacy of a successful third generation family-owned business created by the Mueller family.”
Silverfern Managing Director Deepak Ghosh added, “LSI is a leading manufacturer of specialized aluminum castings and injection molded plastics, serving global customers successfully over the past seventy-seven years. We look forward to partnering with the management team to grow the Company through a focus on technology and manufacturing excellence in partnership with its customers.”
LSI Chief Executive Officer Dick Seidenstricker said, “We’re thrilled to be partnering with Delos and Silverfern to write the next chapter in LSI’s history. We look forward to the growth opportunities the partnership creates while maintaining the values and culture that have been the foundation of LSI’s success for the past 77 years.” Sperry, Mitchell & Company acted as financial advisor to the sellers.
About Delos Capital
Delos Capital is a lower middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments. Additional information is available at www.deloscap.com.
About The Silverfern Group
Silverfern is a global middle-market investment management firm headquartered in Greenwich, CT. Additional information is available at www.silfern.com.
About LSI
Founded in 1946 and based in Le Sueur, MN, LSI is a leading supplier of complex and pressure-tight aluminum castings and plastic injection molding components. For more information, visit www.lesueurinc.com.
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