A private equity firm has added to its portfolio of companies by acquiring a maker of office supplies.
LV2 Equity Partners, which operates offices in Ada, Lansing and St. Johns, said last month that it has purchased the Martin Yale Industries Print Finishing business from Escalade.
The terms of the deal were not disclosed.
Martin Yale in Wabash, Ind. was founded in 1940 and has more than 70 years of experience designing, engineering and manufacturing office products.
The company has a broad portfolio: Premier table-top trimmers and office machines; Master paper punches, catalog racks and reference systems; Mead-Hatcher ergonomic computer management accessories; and Martin Yale folders and letter openers.
Under the ownership of LV2, the company will do business as Martin Yale Industries, and Greg German will remain in his current role as president.
“With new ownership, we are now in a position to place greater emphasis on our product development efforts to more aggressively add to our already strong product portfolio,” German said.
Michael Flint, senior managing director of LV2 Equity Partners, said LV2 plans to “help focus the business on further developing its existing line of print finishing product offerings, as well as grow its distribution channels on a global basis.”
LV2 Equity Partners focuses on acquiring controlling interests in “niche manufacturers, value-added distributors and specialty service companies.”
The firm invests in companies that have the “potential for substantial growth and profit improvement,” according to its website.
LV2’s portfolio is based across the Midwest: the auto repair shop brand Auto-Lab in Farmington Hills; aluminum casting and precision machining business Cast Aluminum Solutions in Batavia, Ill.; steel fabrication company Nex Solutions in Litchfield; and the plastics recycling business mpr in St. Johns.