Cleveland-based Evolution Capital Partners sold Indianapolis-based Lewellyn Technology LLC to fellow Clevelanders Align Capital Partners. Terms were not disclosed.
Lewellyn, which provides electrical safety training and inspection services for Fortune 1000 companies, gives Align its first business-to-business training and certification platform company.
“We will be focused on further developing Lewellyn’s sales and marketing capabilities to accelerate organic growth, while launching a new growth initiative to complete complementary add-on acquisitions within the electrical safety and combustible dust training and certification markets,” Align Managing Partner Chris Jones said in a statement.
Align was founded last year by three former Riverside Co. partners — Jones, Steve Dyke and Rob Langley — who wanted to set up their own shop to invest in smaller deals.
Evolution, which invests in small, entrepreneurial companies, said it has grown Lewellyn from a regional firm to a national leader since buying the company in 2012. Dyke, Operating Partner John Dupuy, Vice President Matt Beesley and Associate Kurt Smentek worked with Jones on the transaction.
Evolution co-founder Jeffrey Kadlic writes on small company private equity for Smart Business. His most recent article is “What to know when a family business takes on a private equity partner.”