Minnesota injection molder and manufacturer Le Sueur Inc. has gained new investors: Ironwood Capital, Genesis Park, Delos Capital and The Silverfern Group.
LSI, based in Le Sueur, Minn., makes injection molded and aluminum castings components.
Details of the investment were not disclosed. Ironwood and Genesis Park provided debt and equity to support the acquisition by Delos and Silverfern.
The investors predicted reshoring in U.S. manufacturing would lead to growth for LSI.
"The company provides a wide range of in-house tooling design, engineering and production capabilities and is poised to benefit from the macroeconomic reshoring trend in the U.S.," stated Ironwood Managing Director Paul Witinski, in a Jan. 6 news release. "We look forward to partnering with the experienced investor group and management team at LSI on the next phase of growth.
"LSI is a critical component of its customers' supply chains due to its expertise in producing high-quality castings for dimensionally challenging, pressure-tight applications," he said.
At 77 years old, LSI is in its third generation of family ownership and serves more than 130 customers in its molding division.
Genesis Park is a private credit and equity investment firm. Ironwood Capital has been involved in middle-market company investing for more than 20 years across the U.S. Delos Capital is a lower middle-market private equity firm that mostly does buyouts and growth investments. The Silverfern Group is a global middle-market investment firm.
"We're thrilled to be partnering with Delos and Silverfern to write the next chapter in LSI's history," said Dick Seidenstricker, LSI's CEO, in a news release. "We look forward to the growth opportunities the partnership creates while maintaining the values and culture that have been the foundation of LSI's success for the past 77 years."