Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that is has partnered with management to complete the acquisition of Pacific Handy Cutter, Inc. (“PHC” or the “Company”). PHC is a recognized leader in the industrial safety market as a manufacturer of highly specialized cutting tools and replacement blades. PHC’s products are sold directly to major retailers, grocery store chains, food service companies and through industrial products distributors. The Company’s products are engineered to eliminate workplace injuries, reduce damaged merchandise and improve productivity.
According to Lauren Leichtman, Co-Founder and CEO of LLCP, “We are thrilled to partner with Mark Marinovich, CEO, Joe Garavaglia, CFO, and the rest of the management team who have built the market leading manufacturer of safety cutters and related accessories. We look forward to the continued growth and success of the business.”
Regarding the transaction, Mark Marinovich commented, “We are very excited about partnering with LLCP, as I believe they are the right partner to help PHC further strengthen its market position and advance in its next stage of growth.”