Devon-based private equity firm L2 Capital Partners L.P. has sold LSC Environmental Products LLC, an Apalachin, N.Y.-based company focused on erosion control, to private equity firm Ancor Capital Partners of Texas.
L2 Capital is the private equity family office of Bob Levine, who co-founded Milestone Partners in 1995.
Under L2’s ownership, LSC underwent significant corporate management changes, executed a transformational acquisition, and developed and introduced multiple new products to market. This investment allowed the company to significantly grow its core business, increase product line breadth, expand end markets served, and position the business to achieve double-digit annual growth rates.
"Over the course of our investment, L2 recruited a new CEO and CFO, worked with management to craft a broader go-to-market strategy, and completed a synergistic add-on acquisition. We are proud of what we and the team have accomplished,” said Levine, L2's managing partner.
Delancey Street Partners served as financial adviser and Pepper Hamilton served as legal counsel to L2.