New York, NY (October 7, 2021) – Douglas Machines Corp. (“Douglas”) of Clearwater, FL, a portfolio company of KODA Enterprises Group (“KODA”) of Waltham, MA, has been acquired by a newly-formed holding company in partnership with CNL Strategic Capital, LLC (“CNL”), which is sub-managed by Levine Leichtman Strategic Capital, LLC (“LLSC”). Sperry, Mitchell & Company initiated this transaction, assisted in negotiations, and served as exclusive financial advisor to Douglas. Burns & Levinson served as Douglas’ legal representative for the transaction. Honigman served as legal representative for the buyer.
Douglas (www.dougmac.com) is a leading provider of innovative and highly effective commercial cleaning and sanitizing systems to the food, pet food, nutraceutical and industrial end markets. Customers leverage Douglas’ equipment to ensure compliance with the increasingly stringent regulatory cleaning requirements pertaining to food safety.
Paul Claro, Douglas’ CEO, stated, “Douglas has a long history of manufacturing the highest quality products which our customers rely on to run their operations effectively. My team and I are excited to partner with CNL Strategic Capital to build upon our current momentum and accelerate our growth initiatives going forward. I look forward to our collaboration and the additional value-added resources they will bring to our business as we continue to provide our customers mission-critical systems.”
CNL Strategic Capital (www.cnlstrategiccapital.com) is a publicly registered, non-traded limited liability company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC.
Levine Leichtman Strategic Capital is an affiliate of Levine Leichtman Capital Partners, LLC (“LLCP”) (www.llcp.com), a middle-market private equity firm with a 38-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.
KODA Enterprises Group (www.koda.com) is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its portfolio companies.
Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.
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