LFM Capital Adds to Automated Packaging Platform with Volumetric Technologies
NASHVILLE, TN – May 24, 2023 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that portfolio company, SureKap LLC (“SureKap”) has acquired Volumetric Technologies (“Volumetric”). The companies’ product lines are highly complementary and both SureKap and Volumetric are well-positioned to benefit from the adoption of automation in the U.S. packaging industry. Financial terms of the transaction were not disclosed.
SureKap’s machinery is used across a variety of industries, including food & beverage, pharmaceuticals, nutraceuticals, and cosmetics. The company’s primary product offering is automated capping equipment, but SureKap also offers conveyors, tables, and fillers. Additionally, SureKap offers parts and service support to its customers, both domestic and international. SureKap has been a portfolio company of LFM since December 2021.
Founded in 1994, Volumetric is a manufacturer of custom liquid filling equipment with capabilities that include filling a wide range of product types in the food & beverage, bakery, pharmaceutical, and cosmetics industries. The company’s products include piston fillers, cup machines, piston filling lines, transfer pumps, dispensing nozzles, and spare parts. Volumetric is based in Red Wing, Minnesota.
LFM Managing Director, Conner Harris, noted, “We are excited about this important partnership, which should drive increased scale, provide our customers with a more extensive packaging solution and broaden SureKap’s sales and marketing capabilities. We look forward to supporting the company and our customers in this next phase of expansion in the packaging machinery space.”
Tim Piper, Founder and CEO of Volumetric, commented, “Over the past nearly 30 years, we have maintained our promise to deliver “Fast, Accurate, Tough” filling solutions with our high-quality equipment. We are confident that the partnership with SureKap will accelerate our efforts in offering an optimal solution to our customers while also expanding to new applications.”
LFM Operating Partner, Richard Butler, added, “We were very impressed with the business that Tim and the rest of the Volumetric team have built, including its strong growth profile, impressive production capacity and customer loyalty. The combination with Volumetric is an important next step in SureKap’s evolution, helping build a combined business that delivers a complete automated bottling solution.”
Ryan Richardson, LFM Senior Associate, Business Development, worked with Harris and Butler on the transaction and 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 SureKap
Based in Winder, GA, SureKap is a manufacturer of packaging machinery used in a variety of industries, including food & beverage, pharmaceuticals, nutraceuticals, and cosmetics. SureKap’s product offering includes cappers, conveyors, tables, and fillers, and offers parts & service to its customers. For additional information, please visit www.surekap.com.
About Volumetric
Based in Red Wing, Minnesota, Volumetric is a manufacturer of custom liquid filling solutions with capabilities that include filling a wide range of product types in the food & beverage, bakery, pharmaceutical, and cosmetics industries. For additional information, please visit www.volumetrictechnologies.com.