LFM Capital Adds New Portfolio Company: Current Tools
NASHVILLE, TN – January 10, 2024 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that it has invested in a new portfolio company, Current Tools, LLC (“Current Tools” or the “Company”). The investment marks the seventh platform company in LFM’s third fund.
Founded in 1999, Current Tools is a leading manufacturer of specialized tools and equipment used by electrical and mechanical contractors in industrial applications. The Company specializes in material handling, cable pulling, and conduit bending tools and distinguishes itself through strong customer support and product innovation. Current Tools is headquartered in Wellford, South Carolina.
LFM Managing Director, Chris Lin, commented, “We were immediately impressed with Current Tools’ leading manufacturing abilities, high fulfillment rates, and unparalleled customer service. LFM is excited to leverage our network and manufacturing expertise to help the Company reach the next stage of its growth.”
John Scovil, CEO and Founder of Current Tools, noted, “Since our founding nearly 25 years ago, we have remained committed to keeping manufacturing in the U.S., unlike many other manufacturers. Having expanded from just one product to now more than 100, I could not be prouder of our track record of growth. Our partnership with LFM Capital will provide even more resources to continue that growth while maintaining the same level of service our loyal customers have come to expect.”
LFM Executive Managing Director, Steve Cook, stated, “The addition of Current Tools to LFM’s portfolio supports our firm’s stated passion and commitment to invigorating the U.S. manufacturing sector. We look forward to partnering with the Current Tools team to continue achieving this mission.”
LFM Managing Director Dan Shockley and Associates Aaron Ramsden and Mitch Mattingly worked with Cook and Lin on the investment. Senior Associate Ryan Richardson helped source the opportunity.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About Current Tools
Founded in 1999 and based in Wellford, South Carolina, Current Tools is a manufacturer of electric, hydraulic and mechanical bending and cable pulling equipment. The Company produces more than 100 specialty tools for electrical contractors throughout North America. For more information, please visit: http://www.currenttools.com.