Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, today announced that it has acquired the Colt Group (the “Company” or “Colt”) in partnership with management. Financial terms of the transaction were not disclosed.

Founded in 1981 and headquartered in Pasadena, Texas, the Colt Group is a leading specialty industrial services company that provides critical emergency repair services – including online leak repair, hot tapping, line intervention, field machining, and other related services – to a diversified industrial and municipal client base. Through its nationwide service network, engineering capabilities and manufacturing expertise, Colt helps its customers maintain operational continuity while avoiding costly, unplanned shutdowns.   Over more than four decades, Colt has established a reputation as a trusted partner for mission-critical asset integrity and reliability solutions.

“We are thrilled to partner with the Colt management team and support the next phase of the Company’s growth. Colt has built a market-leading platform distinguished by its technical expertise, exceptional customer service, and mission-critical value proposition,” said Matthew Rich, Partner at LLCP. “The Company’s services help customers avoid costly downtime and extend the life of critical infrastructure assets, making Colt a trusted partner across a highly diverse customer base. We look forward to investing in the organization’s people, capabilities, and geographic footprint as the Company continues to expand its leadership position.”

The Colt Group will continue to be led by CEO Jason Box and the existing executive team, who will remain significant investors in the business.

“We are delighted to partner with LLCP as we enter our next chapter. LLCP shares our commitment to customer service, safety and operational excellence, while bringing significant experience helping businesses like ours accelerate growth. LLCP has a compelling track record within our sector and brings a strong reputation as an excellent partner to management teams,” said Mr. Box. “We are eager to leverage their industry knowledge, expertise, and resources to drive our next phase of growth, while maintaining the responsiveness and technical expertise our customers rely upon every day.”

The Colt Group is the fifth platform investment of Levine Leichtman Capital Partners VII, L.P.  Through its history, LLCP has invested extensively in the infrastructure services space, including investments in USA Water, In-Place Machining, USA Industries, All4 and Trinity Consultants. 

LLCP was advised by Harris Williams and Kirkland & Ellis LLP on the transaction. The Colt Group was advised by Houlihan Lokey, Inc. and Willkie Farr & Gallagher LLP.