LAI International has acquired Zak Incorporated
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced today the successful completion of a financing for LAI International, Inc. (“LAI”), a portfolio company of RLJ Equity Partners, LLC (“RLJ”). LAI is a leading manufacturer of precision-engineered finished parts, components and subassemblies for power generation, aerospace, defense, medical, electronics and other advanced technology industries.
Lincoln International acted as the exclusive financial advisor to LAI and RLJ and completed the placement of an undisclosed amount of senior secured debt financing provided by THL Credit, Inc. Proceeds from the financing were used to refinance LAI’s existing debt and fund the acquisition of Zak Incorporated (“Zak”), a full service manufacturer and certified turnkey supplier that provides precision machined and custom fabricated components for customers in power generation, specialty metals, and oil and gas.
As LAI’s exclusive financial advisor, Lincoln International worked closely with RLJ and LAI’s management team to structure, arrange, and negotiate the financing. Rufus Rivers, Managing Partner of RLJ, commented, “Lincoln’s financing process was highly effective and efficient. They explored multiple structural alternatives and helped us secure an excellent outcome under a tight timeframe. By outsourcing the financing process, we were able to focus our attention on our diligence of the Zak acquisition, while optimizing the financing package for LAI.”
About LAI International, Inc.
LAI (Leading Applied Innovations) is a provider of conventional and non-conventional engineered finished parts, components and subassemblies for aerospace, power generation, defense, medical, electronics and other advanced technology industries. LAI’s technology, engineering and manufacturing solutions are used to build components for airframes, aircraft engines, power generators, defense systems, medical devices and other mission-critical applications. With five U.S. production operations, LAI has provided superior manufacturing solutions and comprehensive component overhaul and repair services for the world’s leading OEMs. Since 1961, LAI’s manufacturing solutions and services have earned a reputation for excellence throughout the world. To learn more about LAI, visit www.laico.com.
About Zak Incorporated
Founded in 1937 by Alexander F. Zak, Zak Incorporated was originally established as a job shop to serve the local textile industry in Troy, NY. Through over 75 years of development and growth, Zak Incorporated has expanded to become one of the Northeast’s premier contract manufacturers. With the same commitment to customer satisfaction through teamwork, dedication, and pride, Zak Incorporated now primarily serves the power generation industry, the oil & gas industry, and the specialty melting industry. For more information, visit www.zakinc.com.
About RLJ Equity Partners, LLC
RLJ Equity Partners is a middle market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. Founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group, RLJ originates, structures and invests in traditional buy-outs, recapitalizations and growth capital infusions. RLJ Equity Partners is a portfolio company of The RLJ Companies. For more information, visit www.rljequitypartners.com.
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