Atlanta, GA (PRWEB) April 29, 2015
Hunters Gate Holdings, LLC (“Hunters Gate”), a private investment firm based in Atlanta, today announced the acquisition of LOFA Industries, LLC (“LOFA”). Founded in 1989, LOFA is a leading manufacturer of control systems for off-highway engine driven equipment. The terms of the transaction were not disclosed.
The senior management team of LOFA, led by CEO Stephen Rary and OEM Sales Manager Frank Norris, participated in the transaction and will own approximately 20% of the company’s fully diluted equity.
“The entire LOFA team looks forward to working with our new investors at Hunters Gate,” commented Rary. “We plan to focus on our growth initiatives and on strategic acquisitions that will broaden our product lines and end markets. This new partnership will enable us to continue to strengthen our leadership position in the industry.”
“LOFA is a leader in the growing market for industrial controls, and we are pleased and excited to make this investment,” said Peter Cureton, Managing Partner of Hunters Gate. “Control systems are becoming more complex and more important, providing key data to equipment owners and allowing them to operate, monitor and protect their assets more effectively. We look forward to supporting LOFA’s terrific management team as they pursue a strategy of continued growth through industry-leading innovation as well as synergistic acquisitions.”
LOFA was advised by Matt Slappey of Murphy Business & Financial Corporation. Kian Capital Partners and Georgia Commerce Bank provided debt financing for the transaction. LOFA’s legal advisors were The Lambros Firm. Hunters Gate’s legal advisors were Freedman Legal Group and Barnes & Thornburg.
About LOFA Industries, LLC
LOFA Industries, LLC, founded in 1989 and based in Roswell, Georgia, is a leading manufacturer of advanced engine controls and accessories for the off-highway market. LOFA control systems are designed for simplified installation, reducing customer labor costs and providing flexibility, customization, and lower inventory carrying costs. The company’s products make complicated electronically governed engines easy to use and maintain, and are known for their reliable performance, especially in heavy-duty and rugged applications. For further information about LOFA, please visit http://www.lofa.net.
About Hunters Gate Holdings, LLC
Hunters Gate Holdings, LLC, with offices in Atlanta and Charlotte, is a private investment firm focused on majority, control investments in lower middle-market companies in the Industrial, Energy & Power and Business Services sectors based in the Southeastern U.S. and Texas. For further information about Hunters Gate, please visit http://www.huntersgateholdings.com.