Denver, CO - Platte River Equity ("Platte River") is pleased to announce the sale of In-Place Machining Company ("IPM" or the "Company") to Levine Leichtman Capital Partners ("LLCP"). IPM is a premier provider of on-site solutions including precision field machining, diamond wire cutting, metrology and specialty welding.
"Platte River is proud to have supported IPM's remarkable transformation over the past several years," said Mark Brown, Platte River Managing Director. "Ongoing investments in leadership and processes accelerated organic growth and positioned the Company to complete two highly strategic add-on acquisitions. IPM is a truly unique company with unique people. We look forward to watching their continued success well into the future."
"The team at IPM has had an amazing experience growing the company the past several years while partnered with Platte River Equity," said Dean Flint, CEO of IPM. "Our customers, our employees and their families, and our shareholders have all benefited greatly from the relationship. We are also very excited about the next chapter in our storied history."
Houlihan Lokey served as the exclusive financial advisor to IPM and Platte River. Bartlit Beck LLP served as legal counsel to Platte River.