LLR Partners Inc., a private-equity firm based in Philadelphia, announced today that it is partnering with the senior management team of Singer Equities Inc., Maryland, to acquire the business from Paul Singer and his family.
Singer is a group of distributorships in the industrial rubber products industry operating through five companies: Allied Rubber and Rigging, Hampton Rubber Company, National Hose and Accessory, PRC Industrial Supply and R/W Connection.
The company services a national customer base through its 11 branches in Pennsylvania, Maryland, Maine, Virginia and Texas.
LLR Partners provides capital to middle market growth companies in a broad range of industries, including health-care services, financial services and consumer and retail. It currently manages a portfolio worth more than $1.4 billion, according to its Web site.
The firm, which has its office at Cira Centre, invests up to $75 million in a venture, takes minority or control positions, and leads its transactions, ranging from expansion and growth capital to shareholder recapitalizations and buyouts.