Milwaukee private equity fund Lakeview Equity Partners LLC has sold two of its portfolio companies—Cedarburg-based LS Research and Plover-based Automatan.
LS Research, which develops wireless products, creates turnkey MSM system solutions with design services, offers on-site FCC/IC/CE testing and certification, and offers a variety of wireless modules and antennas. The company, which had been in Lakeview’s portfolio since May 2006, was sold to global technology firm Laird PLC in November.
“Lakeview enabled LSR to start its wireless products division, which helped make it a leader in the emerging EIoT (Enterprise Internet of Things) market,” said Kent Velde, president and founder of Lakeview.
Under its new ownership, LSR will continue on its growth path, said Bill Steinike, president of LSR.
“Lakeview’s capital and strategic guidance has been very valuable to us,” said Steinike. “Our relationship with Lakeview enabled us to start our growing RF Products division that, combined with our other divisions, has made LSR a leader in the emerging EIoT (Enterprise Internet of Things). Laird will fuel this growth through combined technology, products, services and distribution channels.”
Automatan, an international equipment distributor serving the packaging and printing industries, offers products such as labelling and laminating systems, load handling equipment and pH/viscosity controls. It was sold to another private equity firm in November.
“Automatän is at the forefront in developing automated solutions for the packaging industry,” said Joe Cesarz, managing director of Lakeview Equity Partners.
“Lakeview contributed to the growth of both companies via capital investment and strategic advice,” Velde said. “Now, we are confident that new ownership will assist each company in achieving the next level of growth.”