L Squared Capital Partners Acquires Functional Devices, Inc.

APi Group Acquires Elevated Facility Services from L Squared Capital Partners

April 16, 2024

Industrial Services

APi Group Corporation has entered into a definitive agreement to acquire Elevated Facility Services from L Squared Capital Partners. Elevated, a Tampa-based provider of elevator and escalator maintenance, repair, and modernization services with ~600 employees and operations in 22 states, is expected to close in Q2 2024, subject to customary conditions and regulatory approval.

SFW Capital Partners Majority Recapitalizes RDI Technologies

February 17, 2022

Industrial Services

SFW Capital Partners completed a majority recapitalization of RDI Technologies, with founder and senior management reinvesting to retain a meaningful equity stake. RDI, a Knoxville-based provider of vision-based analytical solutions for predictive maintenance and test & measurement, will partner with SFW to accelerate growth, expand product and sales capabilities, pursue add-on acquisitions, and build an international footprint.

Black Bay Energy Capital Acquires Majority Stake in Advanced Industrial Devices from Rock Island Capital

May 17, 2022

Manufacturing

Black Bay Energy Capital, a private equity firm focused on the North American energy sector, has acquired a majority interest in Advanced Industrial Devices (AID) from Rock Island Capital. The investment will support AID's growth by expanding its manufacturing, engineering and service capabilities to meet rising demand for electric motors and variable frequency drive (VFD) control systems across oil & gas and industrial end markets.

L Squared Recapitalizes Lumaverse Technologies

September 7, 2021

Cloud & SaaS

L Squared Capital Partners is leading a recapitalization of Lumaverse Technologies, partnering with existing investor PSG to support the company's next phase of growth. The transaction will provide capital to accelerate Lumaverse’s organic product development and pursue inorganic growth through add-on acquisitions across its suite of constituent management and engagement SaaS products.

L Squared Capital Partners Makes Growth Investment in Ergo

November 4, 2025

Consulting

L Squared Capital Partners has made a significant growth investment in Ergo, a New York–headquartered geopolitical and strategic intelligence firm. The capital will support Ergo's organic growth, expand its go-to-market initiatives (including the Flashpoints Forum membership), and enable strategic acquisitions while Ergo's management retains a significant ownership stake.

L Squared Forms BTX Precision with Acquisitions of ERA Industries, Gen-El-Mec and i3DMFG

February 20, 2024

Manufacturing

L Squared Capital Partners has formed BTX Precision by combining three precision components manufacturers—ERA Industries, Gen-El-Mec, and i3DMFG—as part of an accelerated consolidation strategy in the fragmented North American precision components market. The acquired businesses will operate under the BTX platform with existing leadership retained as ongoing owners, and L Squared intends to pursue additional add-on acquisitions to build scale and complementary capabilities.