Houlihan Lokey is pleased to announce that Strategic Materials, Inc., a portfolio company of Willis Stein & Partners, LLC, and Vision Capital, has been acquired by Littlejohn & Co., LLC. The transaction closed on November 1, 2017.
Headquartered in Houston, Texas, with a heritage that dates back more than 100 years, Strategic Materials is the industry leader in recovering and processing post-consumer and post-industrial glass in North America. Strategic Materials operates a network of 47 facilities across the U.S., Canada, and Mexico and serves large and stable end markets, including glass packaging, fiberglass insulation, flat glass, and highway safety bead markets, with a rapidly expanding presence in the abrasives industry. The company’s recycled glass product, or cullet, results in energy savings and a reduction of carbon emissions by up to thirty percent when utilized in container glass and fiberglass insulation production.
Willis Stein & Partners is a Chicago-based private equity firm that makes control investments in middle-market companies. The firm seeks to invest in companies with enterprise values ranging between $30 million and $500 million. Since 1994, the firm has invested more than $3 billion in equity capital in more than 200 transactions.
Vision Capital is an international group that invests as an active owner in midsize businesses and is also engaged in principal finance activities in both Europe and North America. Vision Capital's 15 portfolio companies span financial services, specialty manufacturing, and consumer businesses, with combined revenues of approximately $3.3 billion and over 20,000 employees around the world.
Littlejohn & Co., based in Greenwich, Connecticut, is an investment firm focused on private equity and debt investments primarily in middle-market companies. With over $4 billion under management, the firm seeks to create long-term value for its investors and build sustainable success for its portfolio companies through a disciplined approach to engineering change.