LFM Capital Launches New Industrial Automation Platform: American Automation Group
NASHVILLE, TN – September 4, 2024 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today the acquisitions of Southern Tooling, Inc. (“Southern Tooling” or “ST”) and Tuttle, Inc. (“Tuttle”) to collectively form an automation solutions platform, American Automation Group (“AAG”). Financial terms of the transactions were not disclosed.
Founded in 2007, Southern Tooling designs, builds, and integrates automated and custom equipment with broad applications spanning commercial, industrial, medical and automotive. The company’s solutions include custom automation & machinery, robotic controls & integration, fabrication & machining, and PLC programming. Southern Tooling is based in Lexington, TN.
Tuttle designs, manufactures, and installs custom engineered automated process systems for customers in the pharmaceutical, food, pet food, and general industrial end markets. The company was founded in 1974 by Gary Tuttle as a welding and repair shop and has since evolved to serve a variety of customer needs. Tuttle is based in Friend, NE.
LFM Managing Director, Dan Shockley, commented, “We are thrilled to announce the combination of Southern Tooling and Tuttle to establish American Automation Group. Together, these complementary businesses will provide leading one-stop-shop solutions for manufacturing facilities in diverse end markets, both for existing and new customers. LFM has direct relevant experience in the industrial automation space which will serve as a highly efficient and actionable template for AAG to drive growth and further diversification.”
Jeremy Johnson, Southern Tooling Founder and President, noted, “Over the past 15+ years, we have remained committed to transparency, outstanding designs and affordable solutions. We are thrilled to partner with the LFM and Tuttle teams to expand the breadth and depth of our solutions while continuing to serve our loyal customers.”
Galen Tuttle, Tuttle CEO, commented, “To say I am proud of Tuttle’s organic growth over the past fifty years is an understatement. Tuttle’s dedication to high quality products and to our customers’ evolving needs has led to our long-standing track record of success with both large and small turn-key projects. LFM’s relevant expertise will be invaluable in taking Tuttle to the next level as part of a larger-scale automation solutions platform.”
LFM Managing Director, Chris Lin, added, “With a fulsome start-to-finish offering, AAG will have the ability to help customers increase production while controlling manufacturing costs. We envision many more opportunities to increase AAG’s geographic reach and customer diversification, and we look forward to growing this platform as we have successfully done in the past.”
Ben McNabb, LFM Associate, worked with Shockley and Lin on the transactions. Jessica Ginsberg, LFM Managing Director, sourced the opportunities.
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 Southern Tooling
Founded in 2007 and based in Lexington, TN, Southern Tooling serves the manufacturing industry by designing, building, and integrating customized and automated equipment. For more information, please visit https://www.southerntoolingonline.com/.
About Tuttle
Founded in 1974 and based in Friend, NE, Tuttle designs, manufactures, and installs custom engineered automated process systems for customers in the pharmaceutical, food, pet food, and general industrial end markets. For more information, please visit https://tuttleinc.com/.