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SOURCE Levine Leichtman Capital Partners
LOS ANGELES, Jan. 6, 2014 /PRNewswire/ -- Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has partnered with management to complete the acquisition of Polyform Products Company ("Polyform"). Based in Elk Grove Village, Illinois, Polyform is a leading developer, manufacturer and marketer of polymer clay products worldwide. Polyform's Sculpey® and Premo!® oven-bake craft clays are the chosen brands by professional artisans and clay hobbyists for jewelry making and innovative crafting projects. Polyform's products are sold in over 6,200 leading arts and crafts and big box retail locations worldwide including Michaels Stores, Wal-Mart, Jo-Ann Fabrics and Hobby Lobby.
Polyform is the fourth investment from Levine Leichtman Capital Partners SBIC Fund, L.P., a $225 million private equity fund. According to Lauren Leichtman, Co-Founder and CEO of LLCP, "Polyform is a truly unique company offering a diverse portfolio of polymer clay products to meet the needs of the most discerning artisan as well as beginners to the craft clay hobby. We are excited to partner with Denice Steinmann and the rest of the Polyform senior management team and look forward to continuing to introduce innovative products for its creative customers."
Denice Steinmann, Polyform's Chief Executive Officer, commented, "I am very excited about partnering with LLCP as the company seeks to further strengthen its market position and advance in its next stage of growth. LLCP has a long history of being a value-added partner to its portfolio companies and I look forward to leveraging their strategic, financial and M&A expertise."
Polyform was advised by Third Coast Capital Advisors in Chicago. Senior debt financing was provided by Madison Capital Funding.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $6.5 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions II, L.P. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, CiCi's Pizza, Hackney Ladish, Jon Douglas Real Estate Group, and Quizno's. For more information about Levine Leichtman Capital Partners, please visit www.llcp.com.
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