Accelevation Acquires Workplace Modular Systems
NASHVILLE, TN – April 18, 2023 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that current portfolio company Accelevation LLC (“Accelevation”) has acquired Workplace Modular Systems, LLC (“Workplace” or the “Company”). Financial terms of the transaction were not disclosed.
Accelevation is a vertically integrated group of manufacturing companies serving the data center, electric vehicle and robotic markets. Workplace is highly complementary to one of Accelevation’s key subsidiaries, SkyLab, a provider of extrusion components and in-plant material management and engineering support to advanced manufacturing facilities. Accelevation is headquartered in Springboro, Ohio and has been a portfolio company of LFM Capital since August 2022.
Based in Londonderry, New Hampshire, Workplace designs and manufactures workstations used in biotechnology, labs, and industry that combine enhanced productivity with good ergonomics. The Company’s customers can configure workstations to meet their unique task requirements, choosing from a wide variety of platforms and accessories.
Jim McEleney, Workplace President and CEO, commented, “Throughout its 60+ year history, Workplace has remained dedicated to building solid, well-crafted products with American-made durability. We are proud of our strong reputation for innovative design, superior craftmanship and responsive customer service, and we look forward to partnering with Accelevation to further expand our applications.”
Accelevation President and CEO, Michael Rubiera, stated, “We were immediately impressed with Workplace’s deep product expertise and diverse, loyal customer base. There are attractive potential synergies from the acquisition, particularly related to SkyLab, which will further fuel our growth.”
LFM Managing Director, Chris Lin, noted, “LFM is excited about the complementary addition of Workplace to the Accelevation platform, which will broaden the product offering available to current and new customers. We look forward to working closely with the Workplace team to scale the combined business.”
LFM Executive Managing Director, Steve Cook, worked with Lin on the transaction, and LFM 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 Accelevation
Based in Springboro, OH, Accelevation is a vertically integrated group of manufacturing companies serving the data center, electric vehicle and robotic markets. The company’s subsidiary divisions include Conatech, a leading provider of containment and infrastructure solutions to the data center market, and SkyLab, a provider of extrusion components and in-plant material management and engineering support to advanced manufacturing facilities. Accelevation’s primary product line includes hot-aisle and cold-aisle containment solutions to leading data center builders and operators. For additional information, please visit www.accelevationllc.com.
About Workplace Modular Systems
Throughout its 60+ year history, Workplace has used innovative design and superior craftsmanship to meet demanding customer applications with modular workstation solutions that combine enhanced productivity with good ergonomics. Products include workbenches, workstations, accessories, storage, and seating—all configured to meet specific task requirements. Workplace is based in Londonderry, New Hampshire. For additional information, please visit www.workplacenh.com.