Levine Leichtman Capital Partners Announces The Acquisition Of Pacific Wave Systems

Press Release | Source: Levine Leichtman Capital Partners

April 4, 2008 - Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that LLCP has partnered with management to complete the acquisition of Pacific Wave Systems, Inc. (“PWS”). PWS, based in Garden Grove, California and founded in 1990 is a market leader in the manufacturing of machined microwave products, rigid waveguide assemblies and low-loss waveguide transmission lines for the global satellite industry. PWS sells its products to the largest domestic and international satellite manufacturers. 

The PWS investment was made from Levine Leichtman Capital Partners California Growth Fund, L.P.  According to Lauren Leichtman, Co-Founder and CEO of LLCP, “We are delighted to partner with David Biele and the rest of the PWS management team in making this acquisition.  PWS’ leading global market position in the waveguide manufacturing industry highlights the impressive business that Mr. Biele and the management team have built over the last 17 years. We look forward to PWS continuing its strong tradition of providing high quality waveguide products to its longstanding customer base and are excited to provide the capital needed as Mr. Biele takes PWS to the next level.”

Alongside LLCP, David Biele, the founder, President and CEO of PWS and the senior management made a significant investment in the company.  David Biele will continue to lead the company and is pleased that LLCP has added PWS to its portfolio.  David Biele commented, “We sincerely believe partnering with LLCP gives us the resources and capital needed to insure PWS meets the rapidly growing demand we are experiencing for our products. We are very excited about the future and working together with LLCP.”