Littlejohn & Co, a Connecticut-based investment firm specialising in private equity and debt investments in middle market companies with $8bn in AUM, has entered into an agreement to sell Dana Kepner Company, a Colorado-based supplier of water works material and services, to Core & Main, a specialised distributor of water, wastewater, storm drainage and fire protection products and services.
Dana Kepner was founded in 1933 and operates 19 locations across the US. According to a press release, the company has completed two strategic acquisitions under Littlejohn’s ownership, invested in people and systems with the aim of scaling the organisation and has nearly doubled revenue.
In a statement, Steven Raich, Managing Director at Littlejohn, said: “We are proud to have supported the development and growth of Dana Kepner’s business over the last three years. The Company remains well positioned to capitalise on multiple in-flight initiatives to extend the Company’s long track record of above-market growth.”
Houlihan Lokey and Sheppard, Mullin, Richter & Hampton served as advisors to Littlejohn.
The acquisition is subject to regulatory approval.
