San Francisco, California | July 2017
L Capital LLC is pleased to announce its third equity investment by its inaugural fund, L Capital I LP. The minority investment in GAL Manufacturing was made in partnership with Golden Gate Capital, a San Francisco-based private equity firm with over $15 billion in committed capital. Headquartered in the Bronx, NY, GAL Manufacturing has been in operation since 1927 and is the world’s leading designer, manufacturer, and distributor of elevator components and systems. The Company supplies nearly every electromechanical component used on elevator systems to customers ranging from independent elevator contractors to leading elevator OEMs.
L Capital’s executive search affiliate was engaged by Golden Gate Capital to assist with two pre-deal diligence and talent activities that resulted in expert introductions and the hiring of an outside Board member who was previously a business unit head at Otis Elevator. L Capital made a minority investment in July 2017.
“We are excited to partner with Golden Gate Capital and support the growth and expansion of a company with such an impressive 90-year track record in the elevator industry,” commented Bart Foster, Managing Partner at L Capital.
About L Capital
L Capital is a specialty private equity firm that advises and invests alongside leading buyout and growth equity firms. Our strategy leverages longstanding private equity sponsor relationships and a global executive network to unlock and transform PE deal opportunities across the Technology, Business Services, Industrial and Consumer sectors. The result: strategic insights for PE investors, high-impact leadership for their portfolio companies and access to differentiated returns for L Capital’s limited partners.
Founded in 2015, L Capital is a part of a unique three-part platform serving the private equity industry. Our affiliated executive search and advisory services provide access to a network of 250,000+ senior executives which we leverage to provide value across the PE investment lifecycle including deal origination, diligence support, executive search, and team buildouts. This executive network is a key differentiator and offers a unique lens into companies through the executives who lead them. For more information, visit: www.lcapitalmgmt.com.
About GAL
Founded in 1927, GAL is comprised of G.A.L. Manufacturing Corporation, G.A.L. Canada Elevator Products Corporation (managed by Steve Husband), and Hollister-Whitney Elevator Corporation (managed by Frank Musholt and Brian Musholt). The Company supplies nearly every electromechanical component used on elevator systems, including door operators and associated door equipment, geared and gearless traction machines, universally compatible microprocessor controllers, safety components, signal fixtures, push button panels, and structural assemblies. The Company sells products to a diverse range of customers including thousands of independent elevator contractors and large elevator OEMs.