A private equity firm focused on manufacturing has acquired ATI Corp., a family-owned company that makes equipment used in excavation and site preparation.
- Terms of the deal with Houston-based LDR Growth Partners were not disclosed.
- Based in East Earl Township, Lancaster County, ATI had been owned by Jansen Herr.
- The company — which employs more than 30 people at a 40,000 square-foot building — makes attachments such as grading boxes for skid steers and track loaders.
- Efforts to reach Herr and LDR were not successful.
- But in a press release, ATI’s new general manager, Bart Townsend, said: “We are excited to have LDR on our team contributing industry expertise to scale our business and increase value for our loyal customer base during a time when American manufacturing is faced with a multitude of opportunities.”
- ATI was represented by BMI Mergers & Acquisitions, a Philadelphia-based advisory firm.
What’s LDR: A firm founded by three former Army officers in 2011. They originally focused on management consulting and leadership coaching, according to the firm’s website.
- LDR transformed into a private-equity firm in 2020 and 2021, with a focus on lower-middle-market manufacturers in the U.S. poised to benefit from trends like reshoring and near-shoring.
- The firm’s first acquisitions, in 2022, were of Massachusetts-based Mustang Motorcycle Seats and a pair of Cincinnati-based companies: Cincinnati Radiator and Ohio Heat Transfer.
- The firm subsequently added Connecticut-based Whitman Controls and Cincinnati-based Industrial Radiator Service.
- “At LDR, we are committed to strategically enhancing the capabilities and fostering growth in companies ready to expand, working synergistically with capable management teams to pinpoint opportunities for fresh value creation.” LDR partner Richard Sexton said in a statement.
