LPW Group Holdings, Inc. (“LPW Group” or the “Company”), a leading designer and manufacturer of critical-use valves, actuators, fittings, and flanges, announced today it has entered into a definitive agreement to be acquired by funds managed by Oaktree Capital Management, L.P. (“Oaktree”). In partnership with management, Oaktree’s acquisition will provide additional resources to support the Company’s strategic vision and growth plans. Terms of the transaction were not disclosed.
LPW Group is comprised of leading flow control brands which have a combined 275-year history, each sharing a heritage in manufacturing and application expertise. The Company’s portfolio of highly engineered and custom flow control products is used in mission critical applications across the process industries and increasingly in energy transition and naval markets.
“We are excited to begin our partnership with Oaktree, which has extensive experience in our markets and shares our commitment to delivering high-quality products and exceptional customer service,” Mark Bowie, CEO of LPW Group, commented. “This investment will help LPW Group build on its reputation as the supplier of choice for critical-use flow control products.”
Mike Scardigli, Managing Director in Oaktree’s Power Opportunities strategy, commented, “We see tremendous opportunity to help LPW to leverage its capabilities to expand existing and launch new product lines, and we’re excited to partner with the Company’s leadership team as they execute their strategic plan to enhance the Company’s product offerings for customers and drive value creation.”
Latham & Watkins LLP served as legal advisor to Oaktree in connection with the transaction.
About LPW Group Holdings, Inc.
LPW Group is a leading designer and manufacturer of specialty valves, actuators, fittings, flanges, and other flow control products for critical applications in chemical, petrochemical, LNG, refining, nuclear and conventional power, cryogenic, hydrogen, renewable fuels, naval, and other industrial markets. The Company goes to market under leading brands such as Ladish Valves, Smith Valves, AIT, Diamond Gear, Penn Machine, and Western Forge & Flange and has established itself as the industry leader for quick lead times, engineered solutions, comprehensive manufacturing capabilities, and high-quality products. LPW Group serves a diverse set of customers from seven locations across Texas, New Jersey, and Pennsylvania. To learn more about LPW Group, visit www.lpw-group.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $189 billion in assets under management as of December 31, 2023. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 22 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
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Contacts
Suzanne Byowitz/Julianna Carbone
FGS Global
Oaktree@FGSGlobal.com
