Leonard Green & Partners Acquires Majority Stake in Velvet Taco

Leonard Green & Partners Acquires Majority Stake in TenCate Grass

December 22, 2023

Manufacturing

Affiliates of Leonard Green & Partners (LGP) will acquire a majority stake in TenCate Grass Holding B.V., purchasing shares from Crestview Partners and select other shareholders. TenCate's senior management will remain invested and continue to lead the company; the transaction advances LGP's entry into the sports and outdoor living surfaces market and is expected to close in February 2024 (terms undisclosed).

Leonard Green & Partners Acquires Majority Interest in Crunch Fitness from TPG Growth

April 15, 2025

Retail

Leonard Green & Partners has agreed to acquire a majority interest in Crunch Holdings, LLC (Crunch Fitness) from TPG Growth and Crunch's minority shareholders. The investment will support Crunch's continued domestic and international expansion of its franchise and corporate gym footprint—Crunch operates over 500 gyms and serves more than three million members worldwide.

Leonard Green & Partners Acquires Majority Stake in DuraServ Corp.

June 30, 2024

Industrial Services

Affiliates of Leonard Green & Partners (LGP) acquired a majority stake in DuraServ Corp., a provider of commercial and industrial overhead door and loading dock equipment maintenance, repair and installation services. DuraServ’s leadership and existing shareholders remain invested and will continue to run the business as LGP partners to support the company’s growth strategy; terms were not disclosed.

Leonard Green & Partners Acquires Majority Stake in Pace from Aurora Capital Partners

January 11, 2022

Healthcare Services

Leonard Green & Partners (LGP) acquired a majority stake in Pace, a North American provider of analytical and life sciences testing and outsourced scientific solutions, from Aurora Capital Partners; Aurora has reinvested alongside LGP. Founded in 1978, Pace operates a nationwide network of over 65 analytical testing laboratories, 8 life sciences labs, and more than 45 service centers; financial terms were not disclosed.

Tyree & D'Angelo Partners Secures Minority Growth Investment in Western Veterinary Partners Led by LGT, Hamilton Lane and Apogem

March 20, 2023

Healthcare Services

Tyree & D'Angelo Partners (TDP) arranged a minority growth equity investment into its portfolio company, Western Veterinary Partners, with the round led by LGT Capital Partners, accounts managed by Hamilton Lane, and Apogem Capital. TDP will continue to hold control equity and manage the investment; the capital will support Western's continued organic growth and acquisitions to expand its network of veterinary hospitals across the United States.

Levine Leichtman Capital Partners and Management Acquire Tropical Smoothie Cafe

September 8, 2020

Restaurants & Hospitality

Levine Leichtman Capital Partners (LLCP) partnered with Tropical Smoothie Cafe's management team to acquire Tropical Smoothie Cafe, a leading franchisor of fast-casual cafes with over 870 units across 44 states. The company will continue to be led by CEO Charles Watson and the existing executive team as LLCP works with management to grow unit count, improve franchisee unit economics and expand system-wide sales; debt financing was provided by Golub Capital.