CHICAGO, Illinois, (May 25, 2021) – In partnership with a strategic investor, Turnout Capital has formed Turnout Industries LLC (“Turnout Industries” or the “Company”). From its committed capital base, the Company will seek to acquire 12-15 operating companies with EBITDA of at least $1 million in the business services, manufacturing and distribution/logistics categories over the next ten years.
Turnout Industries will structure and control the subordinated debt and equity required to close transactions quickly and efficiently. The Company’s indefinite hold period will allow for more cooperation among and synergies between its operating businesses.
“We are excited to have more flexibility through this holding company structure than any fund structure would allow. We believe the combination of streamlined financing, committed partners and our longer-term investment horizon will provide an attractive solution for lower middle market sellers,” said Rob France, Partner.
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