Evanston, Ill., January 7, 2021 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced it has partnered with the current management team and owners of Little Giant Ladder Systems, LLC (“Little Giant” or the “Company”) in an investment to support a recapitalization of the business. Terms of the transaction were not disclosed.
Little Giant is a designer, marketer and manufacturer of ladder systems to retailers and distributors in the U.S. and internationally. The Company is based in Springville, Utah and has approximately 250 employees.
Little Giant’s products are used by do-it-yourself and professional customers and are sold through brick- and-mortar, e-commerce, industrial distribution and international channels. The Company designs, engineers, manufactures and sells a diverse portfolio of multi-purpose ladders, stepladders and stepstools, extension ladders, safety cages and accessories with a focus on innovation, safety, superior quality and ease-of-use characteristics.
IOP is partnering in its investment with industry veterans Art Wing (Chairman) and Ryan Moss (CEO) who will retain significant ownership interests and remain in their current management roles. IOP Operating Principal Alberto Satine has assumed the role of Co-Chairman alongside Art Wing. Mr. Satine is a member of IOP’s Board of Operating Principals, which is comprised of experienced executives who provide leadership to the businesses in which IOP invests.
“On behalf of Little Giant and the Wing family, we are excited to partner with IOP and continue to execute on the various growth opportunities ahead of us,” Wing said. “Little Giant’s strategic alignment with IOP is a compelling development that we believe will benefit all of our stakeholders including our community, our customers, our suppliers, and importantly, our employees.”
Added Moss: “We have chosen to partner with IOP to provide both capital and a valuable operating perspective that will allow us to continue expanding our reach with new customers, geographies and products. Management is excited to begin this new stage in the Company’s history.”
Dave Dorfman, Director of IOP, stated, “We are thrilled to announce our partnership with the shareholders and management team of Little Giant, a business whose branded product and reputation for safety, quality and premium design has been recognized by IOP for many years. We look forward to supporting Little Giant and continuing the Company’s impressive growth trajectory.”
Little Giant represents IOP’s seventh platform investment in Industrial Opportunity Partners III, L.P.
Wells Fargo Advisers represented the shareholders of Little Giant. PNC Business Credit provided financing for the acquisition. Winston & Strawn LLP provided legal representation to IOP in the transaction.
About Little Giant
Little Giant is a designer, marketer and manufacturer of ladder systems for do-it-yourself and professional users in the U.S. and internationally. The Company is based in Springville, Utah. For more information, visit Little Giant’s website at www.littlegiantladders.com.
About Industrial Opportunity Partners (IOP)
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $450 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.