LFM CAPITAL ADDS PSI CONTROL SOLUTIONS TO THE PORTFOLIO

NASHVILLE, TN – April 6, 2020 – 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, PSI Control Solutions (“PSI”).

PSI is a leading manufacturer and assembler of custom electrical control panels and emergency power products. PSI’s control panel products division serves large industrial OEMs focused on energy efficiency, motion control, and automation. The emergency power products division targets electrical distributors, electrical contractors, hospitals, data centers, retail, construction and a host of other end markets where backup or temporary power sources are required or mitigate costly downtime due to power loss. Founded in 1961, PSI is headquartered in Charlotte, NC with a second manufacturing facility in Mayfield, KY and has approximately 75 employees across both facilities.

PSI’s CEO, David Pickens, commented, “For nearly six decades, our family has grown PSI by producing reliable, high-quality solutions for our customers. Our exceptional employees take great pride in PSI’s reputation for quality and outstanding customer relationships. We are excited about the partnership between PSI and LFM and look forward to leveraging their manufacturing and operational expertise during the next stage of the company’s growth.”

LFM Executive Managing Director Steve Cook added, “PSI is highly regarded for the outstanding quality and performance of its products. We have enjoyed getting to know David and PSI over the past year, and we look forward to investing in and working alongside the team to expand and grow the business by pursuing the many opportunities available in the company’s core segments.”

In addition to the partnership with LFM, PSI announced that it has added Mark Todd to the team as President. Mark joined from Kaman Automation and previously spent over 20 years at Rockwell Automation. “I am thrilled to join PSI and look forward to working with such an excellent team,” said Mark.

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 PSI Control Solutions

Founded in 1961 by the Pickens Family, PSI is a leading manufacturer and assembler of custom electrical control panels and emergency power products. PSI’s offerings include control panels, low and medium voltage starters, VFD panels, power-metering equipment, transfer switches and generator tap boxes for Original Equipment Manufacturers (OEM) within a wide variety of commercial and manufacturing industries. For more information, please visit www.psicontrolsolutions.com

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