Houlihan Lokey Advises In-Place Machining Company

Houlihan Lokey is pleased to announce that In-Place Machining Company (IPM), the premier provider of on-site precision industrial services and a portfolio company of Platte River Equity, has been acquired by Levine Leichtman Capital Partners (LLCP), a global middle-market private equity firm. The transaction closed on September 16, 2021.

IPM, founded in 1976 and headquartered in Milwaukee, Wisconsin, with nine locations across the United States, is a leading provider of high-acuity field machining, metrology, and diamond wire cutting services for mission-critical infrastructure and equipment. The company’s services are an essential part of the maintenance, repair, and service cycle for clients across a variety of end markets, including industrial and manufacturing, naval and marine, hydroelectric, metals, and aerospace.

LLCP is a middle-market private equity firm with a 38-year track record of investing across various targeted sectors, including franchising, business services, education, and engineered products. LLCP’s global team of dedicated investment professionals is led by seven partners who have worked at LLCP for an average of 22 years. Since inception, LLCP has managed approximately $12.7 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. LLCP currently manages $9.0 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, and The Hague.

Founded in 2006 and based in Denver, Colorado, Platte River Equity is a private equity firm focused on investments in established lower-middle-market operating companies. The firm invests in target sectors, including aerospace and transportation, industrial products and services, energy products and services, and agriculture and chemicals. The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund. Platte River Equity’s employees are the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams.

Houlihan Lokey served as the lead financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of In-Place Machining Company and Platte River Equity. This deal builds on Houlihan Lokey’s successes and expertise in business services and industrial technologies transactions.