Tailwind Capital Sells Loenbro
New York – February 2024 – Tailwind Capital (“Tailwind”) has completed the sale of Fund III portfolio company Loenbro, LLC (“Loenbro” or the “Company”), a provider of highly technical, specialized services to the infrastructure, data center, industrial, and energy markets, to Braemont Capital. Terms of the transaction were not disclosed. The Loenbro exit exemplifies Tailwind’s sector focused, “Buy & Build” investment strategy within infrastructure services and the lower middle market.
Founded in 1998 and headquartered in Westminster, Colorado, Loenbro is a leader in the high-growth Mountain West with a large serviceable market opportunity across its core capabilities and end markets. Loenbro is recognized for its significant industry and technical expertise, scale, local presence within an expansive footprint and employee-centric culture. The Company’s lifecycle solutions focus on recurring maintenance and high-growth new build and retrofit work, all supported by strong secular tailwinds. Under Tailwind’s ownership, the company completed 4 add-on acquisitions which, in addition to organic diversification, materially diversified the Company’s end-markets.
“Loenbro has an outstanding reputation and track record as a trusted partner to critical infrastructure and industrial clients. Their technical ability, safety track record and commitment to getting the job done right the first time is unparalleled in the industry,” said Nick Cincotta, Principal at Tailwind Capital. “We thank the team for the opportunity to collaborate during our period of ownership and wish them well as they continue to scale under new ownership.”
Daniel Cowan, Chief Executive Officer at Loenbro, commented, “We are grateful for Tailwind’s support over the last several years. As we enter of our next stage of growth, we are excited to partner with Braemont.”
Stifel and BlackArch Partners served as financial advisors to Tailwind and Loenbro. Davis Polk & Wardwell LLP served as legal counsel to Tailwind and Loenbro. Kirkland & Ellis LLP served as legal counsel to Braemont Capital.
Loenbro has been a trusted provider of specialty technical services for over 20 years, delivering superior single-source solutions for customers in data center, industrial and infrastructure markets. Loenbro offers electrical, mechanical and structural services, instrumentation, inspection and other maintenance and construction related services. Headquartered in Westminster, CO, Loenbro has locations across the western United States. For more information on Loenbro, please visit loenbro.com.
About Tailwind Capital
Tailwind Capital is a private equity firm with a sector-focused approach to investing in U.S. lower middle market services companies within Infrastructure Services, Supply Chain and IT Services. Tailwind’s value creation model is centered on its Buy and Build investment strategy, which seeks to scale lower middle market businesses through accretive acquisitions and operational investments, including foundational resourcing, professionalizing operations, implementing technology capabilities and investing in talent. Since inception, Tailwind has invested $4 billion in over 270 acquisitions, including 51 platform companies and over 220 add-on acquisitions. For more information, please visit tailwind.com.