A Los Angeles-based private equity firm is investing in the largest independent foam fabricator in the United States.
Levine Leichtman Capital Partners is making what it calls a “growth equity investment” in Allied Aerofoam, which makes products for a variety of uses, including packaging, pet beds, children's furniture and marine cushions.
“The company has an outstanding reputation for design, quality and customer service as shown by its ability to consistently introduce new products and enter additional end markets. We look forward to our partnership with management,” CEO Lauren Leichtman said in a statement.
Alan Rash remains CEO at Allied Aerofoam, and Bill Carrington continues as president.
Allied Aerofoam is based in Tampa, Fla., and has additional manufacturing sites in Atlanta, Thomasville, Ga., and Milan, Tenn.
"I am very excited about LLCP's investment and believe that LLCP will be a great partner as we continue to grow the business. I look forward to leveraging LLCP's strategic and financial expertise,” Rash said in a statement.