L Squared Capital Partners Forms BTX Precision; Seeks Additional Acquisitions of Leading Precision Components Businesses

L SquaredNew PlatformL Squared Capital Partners Forms BTX Precision; Seeks Additional Acquisitions of Leading Precision Components Businesses




February 20 , 2024 | Posted by Adam Kimura | No Comments

L Squared Capital Partners Forms BTX Precision; Seeks Additional Acquisitions of Leading Precision Components Businesses

BTX Precision initially formed via the combination of three leading manufacturers of precision components

Newport Beach, CA, February 20, 2024 – L Squared Capital Partners (“L Squared”) is pleased to announce the formation of BTX Precision (“BTX”) to continue an accelerated consolidation thesis in the highly fragmented North American precision components landscape.  L Squared commenced this consolidation thesis with the acquisition of ERA Industries followed by the acquisitions of Gen-El-Mec and i3DMFG. 

BTX launches as an integrated family of customer-centric, precision manufacturing organizations with a nationwide footprint spanning more than 175,000 square feet of state-of-the-art equipment and engineering expertise necessary to produce complex components used in mission-critical applications.  Headquartered in Illinois, ERA Industries is a high-end provider of tight tolerance machined components and assemblies for the aerospace, defense, and medical sectors.  Gen-El-Mec, located in Connecticut, specializes in complex milling and turning primarily for the semiconductor sector.  Located in Oregon, i3DMFG specializes in metal additive manufacturing with expertise extending beyond rapid prototyping into long-run production parts for the defense and space sectors. 

The leadership teams at each acquired entity within BTX have remained in place as both executives and ongoing owners of BTX in partnership with L Squared.  “We’re excited to continue to build the BTX Precision platform via an aggressive acquisition campaign,” said Randall Hunt, Partner at L Squared.  “The assets we’ve acquired to date are great businesses in their respective domains with deep customer relationships built over decades via an unwavering commitment to quality and service.  Our capital base and execution of our M&A strategy will enable BTX to continue to assemble a growing portfolio of complementary capabilities and enhance the value proposition to all customers across the BTX portfolio.”

L Squared was advised by Harris Williams LLC on the acquisition of ERA Industries.  Vedder Price has served as legal counsel to L Squared in the formation of BTX Precision, including all acquisition activity to date. 

About BTX Precision
BTX Precision was formed in 2024 by L Squared Capital Partners to consolidate the highly fragmented North American precision components sector.  Through its operating subsidiaries, BTX represents a single source solution for high-quality, tight-tolerance components used in mission-critical applications by customers serving the aerospace, defense, medical, and semiconductor end markets.  For more information, please visit:  www.btxprecision.com

About L Squared Capital Partners
L Squared Capital Partners is a private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over 15 years and have over 125 years of combined experience investing in growing private companies.  For additional information, please visit www.lsquaredcap.com.

For Additional Information Please Contact:

Randall Hunt
[email protected]

Tyler Huez
[email protected]

Matt Borges
[email protected]

This press release is for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. L Squared Capital Partners is an investment adviser registered with the United States Securities and Exchange Commission. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.

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