ShopSabre Acquires Langmuir Systems
NASHVILLE, TN – January 20, 2023 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that current portfolio company ShopSabre has acquired Langmuir Systems (“Langmuir” or the “Company”). Terms of the transaction were not disclosed.
ShopSabre is a leading designer and manufacturer of CNC routers and plasma tables that are used in a variety of high-precision operations to cut wood, steel, aluminum, and other materials. ShopSabre is based in Lakeville, Minnesota, and has been a portfolio company of LFM Capital since 2019.
Based in Conroe, Texas, Langmuir is a designer and assembler of affordable CNC plasma, CNC milling, and welding technology serving the hobbyist and prosumer metalworking markets. The Company launched with the development of its flagship Crossfire product, which opened the door to personal use of CNC plasma technology at an approachable price point for the everyday enthusiast. Since then, Langmuir has expanded to include a range of plasma offerings for hobbyists all the way through light commercial use, as well as the popular ArcFlat weld table and the 2022 introduction of the MR-1, a pioneer in affordable three-axis CNC milling technology.
Jim Bombardo, Founder and CEO of ShopSabre, commented, “ShopSabre’s goal is to provide well-designed, American-made CNC technology for entry and small business users, focusing on quality and customer service. We look forward to working alongside the talented Langmuir team in the same spirit to drive new product development further and expand our overall addressable market.”
Mike Downs, Founder and CEO of Langmuir, noted, “We have respected ShopSabre for years, so it is really exciting to join forces with such a reputable brand in our industry. We are very proud of the business that we have built and the thousands of customers that we have been able to provide with high-quality and affordable CNC equipment. We can’t wait to increase our impact on the industry through this partnership.”
LFM Managing Director Dan Shockley added, “ShopSabre and Langmuir were both founded with the mission of making CNC technology more accessible. While the companies will continue to operate independently, we are thrilled to partner with them both to accelerate this mission through cooperation, collaboration, and continued investment. LFM looks forward to working with the ShopSabre and Langmuir leadership teams to fuel growth opportunities going forward.”
Managing Director Conner Harris and Senior Associate Tucker Cowden worked with Shockley on the transaction from LFM. Managing Director Jessica Ginsberg sourced the transaction for LFM. Deloitte Corporate Finance served as financial advisor to Langmuir on the transaction.
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 ShopSabre
Based in Lakeville, Minnesota, ShopSabre is a leading designer and manufacturer of CNC routers and plasma tables that are used in a variety of high-precision machining operations to cut wood, steel, aluminum, and other materials. For additional information, please visit https://www.shopsabre.com/.
About Langmuir Systems
Based in Conroe, Texas, Langmuir Systems is a designer and assembler of CNC Plasma and Milling equipment, as well as welding tables and accessory items, predominantly for personal and hobby users. For additional information, please visit https://www.langmuirsystems.com/.