ANNOUNCEMENT
Franklin Partners advises leader in metal prototyping in its sale to PE-backed Le Sueur Incorporated
Le Sueur Incorporated (“LSI”), a portfolio company of Delos Capital, and a leading supplier of complex aluminum castings, machined castings, and plastic injection molded components, completed the acquisition of Craft Pattern and Mold (“Craft”).
Craft, based in Montrose, MN, is a full-service provider of rapid prototyping and complex metal and plastics components to OEMs in a wide range of industrial end markets, including agriculture, construction & heavy equipment, aerospace, industrial pumps and valves and powersports. Craft has over 30 years of industry experience and has established itself, along with its skilled employees, as a leader in delivering high-quality parts to customers with short lead times.
“We are excited to welcome the Craft team as a critical step in our company's development. Our goal is to provide our growing customer base with the products and services they are asking for, and Craft is a key to that expanded offering,” said Greg Paolini, President & CEO at LSI.
“The acquisition of Craft is highly complementary and will provide LSI with additional capabilities, enabling an end-to-end service offering for our customers,” said Jordan Mondshine, Principal at Delos Capital. “We are thrilled to partner with Tony and Lisa Cremers and look forward to building upon their successes and accelerating growth.”
Craft engaged Franklin Partners to identify and evaluate strategic partners that could leverage Craft’s expertise in metal prototyping while also providing Craft’s long-standing customer base of industry leading OEMs with a more comprehensive service offering at higher production volumes.
“Franklin Partners came highly-recommended as an M&A advisor that would take the time to understand our unique situation and identify partners that would support Craft’s growth initiatives. We wanted an advisor experienced in working with family-owned businesses and was committed to supporting our team throughout the entire process. Craft Pattern is excited to partner with LSI and Delos Capital and the growth potential it will provide.”
— Tony Cremers, President and Owner, Craft Pattern and Mold
Franklin Partners, Inc. acted as the exclusive sell-side financial advisor to Craft and its owner. Dolan, Besser & Geffre and Ballard Spahr, LLP acted as legal counsel for Craft while Myslajek Kemp & Spencer, Ltd. provided accounting and tax services. If you are considering a sale of your business or want to learn more about Franklin Partners’ approach to advising privately-owned businesses, please contact Joel Fischer or Chip Myers.
About Le Sueur Incorporated
LSI, based in Le Sueur, MN, is a leading supplier of complex and pressure-tight aluminum castings and plastic injection molding components. LSI specializes in utilizing permanent mold, sand casting, die casting, plastic injection molding, and precision machining manufacturing processes, with its dedicated engineering team to provide customers with the most cost-effective method of manufacturing. Additional information is available at www.lesueurinc.com.
About Delos Capital
Delos Capital, based in New York, NY, is a lower middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments. Additional information is available at www.deloscap.com.
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