LVL3 Announces the Acquisition of H.I.S. Innovations Group
LVL3, a private equity group located in Portland, Oregon today announced the acquisition of privately-owned Hoffman Instrumentation Supply (HIS).
PORTLAND, Ore., Jan. 14, 2019 /PRNewswire-PRWeb/ -- LVL3, a private equity group located in Portland, Oregon today announced the acquisition of privately-owned Hoffman Instrumentation Supply (HIS). HIS is a premier manufacturer and distributor of custom and off-the-shelf high vacuum (HV) and ultra-high vacuum (UHV) stainless steel components and systems used primarily in the semiconductor, aerospace and defense, government research laboratories, and other industries. In addition to HV and UHV components and systems, HIS also provides outsourced stainless steel fabrication services for gas delivery systems and other complementary products.
HIS has been a family-owned and family-run business since 1979, is headquartered in Hillsboro Oregon, and attributes its growth and success to its amazing employees, channel partners, and customers. The acquisition will focus on maintaining the company's strong commitment to positive company culture, the employees, serving its customers and partners with the best products and services in the market, and driving new strategic initiatives into the company that will accelerate growth.
Jason Frank, Partner at LVL3 and now CEO of HIS, commented: "Corey Hoffman has transformed HIS into a strong platform for growth and we are thrilled to continue the work that has already started. We are excited that Corey will continue as a board member and will work closely with LVL3 to ensure a smooth transition and provide strategic guidance critical for growth. We believe that the combined experience of existing management, augmented with LVL3's resources and experience in relevant markets, provides a unique opportunity for scale. HIS will continue to prioritize existing sale channels, while exploring new channels where it can translate core competencies."
Corey Hoffman commented: "I've known Jason from LVL3 for years and couldn't be more excited about the plan for growth. Through the sale process we talked to a number of firms and LVL3 showed the best strategic vision, expertise, and ability to align with our culture and people."
About HIS:
HIS Innovations Group (http://www.hisoregon.com) is a premier manufacturer and distributor of custom and off-the-shelf high vacuum (HV) and ultra-high vacuum (UHV) stainless steel components and systems used primarily in the semiconductor, aerospace and defense, government research laboratories, and other industries. In addition to HV and UHV components and systems, HIS also provides outsourced stainless steel fabrication services for gas delivery systems and other complementary products.
About LVL3:
LVL3 is passionate about working with entrepreneurs who embrace the art and science of building great brands that impact culture. LVL3 brings a unique constellation of skills that connect high growth operational experience with strategic vision to drive short and long-term growth, enterprise value, and create the financial results its clients deserve.
LVL3 partners in a variety of capacities with its clients including acquiring companies to be owned and operated directly by LVL3 and partnering with owners and entrepreneurs in an "office of the CEO" capacity to implement operational efficiencies, execute on strategic growth initiatives, and enhance back end valuation.
SOURCE LVL3
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