Private equity firm Levine Leichtman Capital Partners (LLCP) has collaborated with management to purchase FlexXray, a provider of x-ray inspection services focused exclusively on food safety.
FlexXray assists Fortune 100 food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food.
Hundreds of manufacturing plants in North America rely on FlexXray’s industry-leading expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, TX.
The investment in FlexXray will be made out of LLCP Lower Middle Market Fund, L.P.
According to LLCP Partner Bob Poletti, “We are excited to partner with Kevin Fritzmeyer and the rest of the management team who have successfully led the growth of FlexXray. The Company’s high ROI service has entrenched the Company in a critical place in the food safety ecosystem. We look forward to working with management as they continue to expand the business.”
The Company’s management team, led by Kevin Fritzmeyer, will acquire a meaningful ownership stake in the Company in connection with the transaction.
Regarding the transaction, Fritzmeyer commented, “I am delighted to partner with LLCP as FlexXray seeks to realize the significant growth opportunities available to the Company. LLCP’s resources and experience will be critical in the continued development of the Company, and I look forward to leveraging LLCP’s strategic and financial expertise.”
