Levine Leichtman Capital Partners Portfolio Company Technical Safety Services Acquires Precision Air Technology

LOS ANGELES--(BUSINESS WIRE)--Technical Safety Services (“TSS” or the “Company”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Precision Air Technology, Inc. (“Precision”). Based in Morrisville, North Carolina, Precision is a provider of controlled environment testing and certification services required in high-performance, regulated pharmaceutical and healthcare settings.

TSS is a leading provider of testing, inspection, certification, and calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare and other life sciences end markets. TSS provides on-site technical services mandated to occur at regular intervals to ensure all clients remain in compliance with regulatory standards. The Company’s services are performed across the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, bio-safety cabinets, medical gas systems, high-purity water systems, laboratory equipment and more. TSS was founded in 1970 and is headquartered in La Jolla, California.

Brent Hart, CEO of TSS, commented, “Precision is a highly respected organization that we are thrilled to welcome to the TSS platform. Our combined team will have greater resources and capacity to serve mission-critical life sciences and healthcare markets by delivering best-in-class, expert support.”

Matthew Rich, Partner at LLCP, stated, “We are proud to support the TSS team in this exciting step to expand their geographic presence within the Research Triangle, a key, high-growth pharmaceutical and life sciences hub. We look forward to the benefits of this integration and to the continued execution of TSS’s ambitious expansion plans through further strategic M&A and other active initiatives.”

The acquisition of Precision is TSS’s sixth since being acquired by LLCP in 2022.

TSS is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $13.3 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.9 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.

Mark Semer/Sara Widmann
Gasthalter & Co.
(212) 257 4170
llcp@gasthalter.com