Houlihan Lokey is pleased to announce the sale of FlexXray LLC, a portfolio company of Barton Creek Equity Partners (BCEP), to Levine Leichtman Capital Partners (LLCP) and FlexXray's management. The transaction closed on August 16, 2017.
FlexXray is the leading provider of X-ray testing and inspection services focused exclusively on food safety. FlexXray assists Fortune 100 global food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food products. Hundreds of manufacturing plants in North America rely on FlexXray's industry-leading expertise, proprietary technology, and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is based in Arlington, Texas.
BCEP, based in Austin, Texas, is a private equity firm focused on middle-market companies that are closely held or family owned, are interested in a partial or complete liquidity event, and have the ability to achieve revenue and EBITDA growth organically or acquisitively by executing business improvement opportunities and leveraging BCEP's expertise and resources. BCEP's founders have worked successfully with numerous middle-market companies and leading private equity firms.
Private investment firm LLCP, based in Los Angeles, California, has managed approximately $9 billion of institutional capital since its inception. LLCP invests in middle-market companies located in the United States and Europe and is currently making new investments through Levine Leichtman Capital Partners VI, L.P.; LLCP Lower Middle Market Fund, L.P.; Levine Leichtman Capital Partners Private Capital Solutions, L.P.; Levine Leichtman Capital Partners Europe, L.P.; and LLCP Co-Investment Fund, L.P. LLCP has offices in Los Angeles, New York, Dallas, Chicago, London, and The Hague.
Houlihan Lokey served as the exclusive financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of FlexXray and Barton Creek Equity Partners. This transaction exemplifies the continued success of our dedicated food safety practice and represents another transaction in a long track record of advising, and delivering outstanding results for, shareholders of food safety platforms.