CHICAGO, June 28,
2024 /PRNewswire/ -- May River
Capital today announced that its portfolio company NSL
Analytical Services ("NSL") has been acquired by Levine Leichtman
Capital Partners ("LLCP").
May River acquired NSL in January
2020. Since that time, May River and NSL management have
driven substantial organic growth in the business through targeted
initiatives, such as:
- Significant talent development throughout the organization,
with approximately 20 team members promoted or recruited since May
River's acquisition
- Enhancements to the depth and breadth of NSL's services
offering, spearheaded by technical leadership hire Dr. Ed Herderick
- Critical investments to support the scalability of the
enterprise, including the migration of NSL's metallurgical lab to a
larger, more modern facility
- Deepening of NSL's reputation as a testing "center of
excellence" within key markets served
Ron Wesel, CEO of NSL, commented,
"Thanks to our loyal customers, our wonderful team, and our
partners at May River, NSL today is poised to continue its legacy
as a trusted provider of advanced materials testing services. Our
new partnership with LLCP will further guide and fuel NSL's growth
in support of the critical quality assurance testing our team
delivers to clients world-wide."
Pat St. John, Managing Director
at May River, commented, "We are incredibly proud of the
achievements of NSL and its team under May River's ownership. These
strategic efforts have resulted in impressive growth and have
positioned the business as a trusted supply chain partner across a
number of mission critical, high performance industries." St. John
went on to comment, "It's clear that LLCP's investment approach is
a perfect fit for NSL – LLCP's experience will be key in helping
NSL execute on its growth plans, which will ultimately result in
enhanced value delivered to NSL's clients."
KPMG Corporate Finance LLC served as financial advisor and Paul
Hastings LLP served as legal advisor to May River and NSL.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on
investing in lower middle-market, industrial growth companies. May
River Capital invests in high-quality industrial growth businesses,
including advanced manufacturing, engineered products and
instrumentation, specialized industrial services, and value-added
industrial distribution services. For more information, please
visit www.mayrivercapital.com.
About NSL Analytical Services
Founded in 1945, NSL Analytical Services provides independent
laboratory testing services to a diverse array of customers and end
markets where testing speed, accuracy, and consistency is mission
critical to operations and compliance. NSL serves over 1,700 global
customers from two facilities located in the Cleveland metropolitan area. For more
information, please visit www.nslanalytical.com.
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SOURCE May River Capital, LLC