LFM Capital Rebrands Automated Packaging Platform and adds Kraken Automation
NASHVILLE, TN – December 20, 2024 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that its portfolio company, SureKap LLC (“SureKap”), has rebranded to Excelis Packaging Automation (“Excelis”) and has acquired Kraken Automation Inc. (“Kraken” or the “Company”). Financial terms of the transaction were not disclosed.
The rebranding of SureKap to Excelis Packaging Automation reflects the expanded automation capabilities now offered by the growing platform. Excelis provides comprehensive, turnkey automation solutions through its commitment to best-in-class, North American-made packaging equipment, parts, and service. Since LFM's initial acquisition of SureKap in December 2021, the company has evolved from a provider of automated capping equipment into a full-service packaging automation platform through four complementary add-on acquisitions.
Kraken, the latest addition to Excelis, specializes in complex high-speed material handling, conveyance, case packing, cartoning, and accumulation systems. The Company delivers cutting-edge, customized solutions that streamline manufacturing processes, enhance productivity, and reduce costs. Founded in 1987 and based in Ontario, Canada, Kraken brings a wealth of expertise to the Excelis platform.
Conner Harris, Managing Director at LFM, commented, “LFM is extremely excited about the value that Kraken brings to Excelis. We have been brainstorming this partnership with Bill for years and are looking forward to working with the Kraken team to integrate its innovative offerings and expand Excelis’ offerings into the secondary packaging space.”
Bill Grant, CEO of Kraken, noted, “We are proud of the strong reputation we have built over the past 35+ years for customized automated packaging solutions that optimize performance, efficiency, and reliability. We look forward to collaborating with the broader Excelis platform to continue maximizing manufacturing and processing efficiency.”
Richard Butler, Operating Partner at LFM, added, “It is remarkable to reflect on the progress and growth of the packaging platform since our initial investment in SureKap. The integration of Kraken will add significant value to our current and future customers.”
Mitch Mattingly, LFM Associate, worked with Harris and Butler on the transaction, while Jessica Ginsberg, LFM Managing Director, sourced 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 Excelis
Based in Winder, GA, Excelis is a comprehensive packaging equipment partner committed to delivering trustworthy solutions that optimize production through enhanced efficiency and flexibility. The company’s offerings include liquid filling machines, liquid filling parts, automatic capping, and labeling & padding machines. For additional information, please visit https://www.excelisautomation.com/.
About Kraken Automation
Kraken Automation develops innovative, customized packaging automation technology and turnkey automation solutions. Kraken also offers engineering and consultation services that assist process manufacturers in optimizing packaging line performance, efficiency, and reliability. For additional information, please visit https://krakenautomation.com/.