Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, has sold its portfolio company Jonathan Engineered Solutions (JES) to JLL Partners.JES, based in Irvine, California, is the global market leader in the design and manufacturing of highly engineered steel and aluminium mechanical components for defence, commercial and industrial end markets. With a legacy that spans nearly 70 years, the Company’s ruggedised enclosure solutions protect operating systems in aircraft, naval ships and submarines for the U.S. military and its allies.
Micah Levin, a Senior Managing Director at LLCP, says: “The JES investment has been very successful for LLCP, our partners and the Company’s management team. Since our initial investment in 2016, we are proud to have enhanced the value of JES by investing in a best-in-class management team, driving growth and diversification organically and through acquisitions, expanding the product suite and implementing operational improvements. JES has an exciting future, and we wish the team continued success.”
Jason Cianciarulo, CEO of JES, says: “It has been a true pleasure partnering with the LLCP team through this time of unprecedented growth. We appreciate their support and expertise in advancing our strategic initiatives, their unwavering confidence in our management team and the capital they provided to acquire complementary businesses. We have benefitted significantly from our collaboration and are excited to enter the next phase of growth.”
Harris Williams served as lead financial advisor with Stifel serving as co-advisor. Kirkland & Ellis served as legal advisor to JES in connection with the transaction.