RADNOR, PENNSYLVANIA ‐ March 21, 2011 – L2 Capital announced that it has completed the acquisition of Landfill Service Corporation. Terms of the deal were not announced. The Company, which will operate going forward as LSC Environmental Products (“LSC”), makes Posi‐ShellTM, the premier alternate daily cover used by landfills, and sells and leases other products and equipment used for soil stabilization throughout North America and abroad. Visit LSC’s website at www.landfill.com.
Bob Levine, Managing Partner of L2 Capital, said “While we’re thrilled to have completed our first platform transaction so soon after our formation, we’re more excited that LSC possesses so many of the attributes we seek in target companies, including predictable cash flow, a strong and defensible market position, and selling shareholders who have agreed to remain investors in the Company and be our partners going forward.”
Dave Hansen, co‐founder of LSC remarked, “The entire LSC team is pleased to be moving forward with L2 Capital. As the original founders transition toward retirement, we are confident that LSC’s tradition of excellence will be upheld and that our successful global expansion will be strengthened.”
M & T Bank provided debt financing, and McGladrey Capital Markets represented the Sellers in the transaction.
L2 Capital (www.L2Capital.net) is a lower middle market investment firm focused on privately‐owned manufacturing, service and distribution companies with revenues of $10 million to $75 million. L2 Capital has over $50 million in available capital and plans to invest up to $10 million in each transaction. L2 Capital’s expected average deal size is $10 ‐ $20 million but it will selectively pursue larger transactions.
For more information, contact L2 Capital at info@L2Capital.net or (610) 922‐4030.