Larsen MacColl Partners (LMP), a private equity fund based in Radnor, Pennsylvania, has sold a majority stake in its portfolio company, S&S Worldwide, to Sansei Yusoki (SY).
LMP made its original investment in S&S in 2009 and supported S&S’s subsequent growth with additional financial resources and strategic guidance as S&S rapidly expanded its customer base and product offering in Europe and Asia.
Sansei Yusoki is an Osaka Stock Exchange-listed company operating globally across the elevation equipment, stage equipment and amusement ride sectors. SY says its acquisition of S&S will broaden its customer base and product offering and position its amusement rides business for further growth in overseas markets, specifically China, the US and Europe.
Rich Allen, president and chief executive of S&S, says: "The financial strength of Sansei, coupled with its strong engineering and manufacturing focus, will be a tremendous complement to S&S’s patented portfolio and strong sales success."
Brookwood Associates acted as the lead financial adviser to LMP and S&S. Business Development Asia also advised on the transaction. Miller & Martin, a full-service firm with offices in Atlanta, Chattanooga and Nashville, acted as legal advisors to LMP and S&S.
Tim MacColl (pictured), managing partner of LMP, says: “Brookwood was a tenacious partner in this process. Their senior attention was evident in positioning S&S to attract the right interest from a global buyer universe, and navigating extremely complex issues in a cross-border context.”
