L2 Capital Partners L.P. sells LSC Environmental Products LLC to Texas-based private equity fund Ancor Capital Partners. LSC is a manufacturer of products addressing erosion, odor, land reclamation, and waste cover. The company is a pioneer in the solid waste industry and its products are used in many “high-profile environmental sites”. The services and products of the New York-based company are used in many disaster situations like wildfires.
Global lead for environmental coatings
The main products of LSC are spray-applied environmental coatings. For example, Posi-Shell® enables landfills to remain erosion resilient for multiple years and helps to reduce equipment usage and increase landfill capacity. LSC also offers revegetation products or biotic soil amendments. The company also offers full-service solutions in case of environmental catastrophes for soil stabilization, ash containment, and coverings through Posi-Shell. LSC assesses containment options, deploys their response teams, coordinates disposal options and completes restorative efforts. One success story of the company is the Mesa County Landfill which saves over $1M per year through LSC’s products.
Levine’s Single Family Office L2 Capital invested in 2011 in LSC
L2 capital is the single family office of Bob Levine (that is also featured in our list of single family offices in the United States), the co-founder of Milestone Partners in 1995. Milestone partners is an established lower middle-market private equity firm that has managed more than $650M capital commitments and transactions with a value of over $3.5B. Today, Levine manages his own investments through L2 Capital. The firm is also focused on private equity deals. The family office specializes in control and minority investments in companies with annual revenues between $10-75M and an annual EBITDA between $2-8M. L2 is focused on business in the service, consumer goods, and manufacturing sector. Levine commented on the transaction with: “Over the course of our investment, L2 recruited a new CEO and CFO, worked with management to craft a broader go-to-market strategy, and completed a synergistic add-on acquisition. We are proud of what we and the team have accomplished.” The buyer, Ancor Capital Partners, is an operations-focused private equity firm that acquires businesses with an enterprise value between $25-150M.
Picture source: Paul Mocan
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