Bristol, CT, May 1, 2024–(BUSINESS WIRE)–Whitman Controls, LLC. Whitman Controls, LLC. (“Whitman Controls”), an industry leader in the custom design and manufacturing of pressure, vacuum, level and temperature switches, announced today that Advantage, a leading impact investor, has announced that Whitman Controls, LLC. Announced that it has secured a $4.5 million investment led by Capital. The Bristol-based company will use the capital to support its business growth initiatives and bring up to 30 new jobs to the region.
Whitman Controls plans to use this new funding to support the purchase of new equipment to expand manufacturing capacity and new distribution channels. Additionally, this financing supports strategic bolt-on acquisition opportunities in the industrial sensors sector and strengthens Whitman Controls' position as a one-stop solution for industrial controls.
“Over the past several years, we have steadily grown our revenue and expanded our customer base,” said Scott Boulanger, general manager of Whitman Controls. “This funding comes at a critical time as we continue to scale our business. We are grateful for this funding. It serves as a great example of partnering with.”
For more than 40 years, Whitman Controls has sold products to customers including Fortune 500 companies in a wide range of industrial markets, from oil and gas to technology and medical devices. This combination of expertise ensures a comprehensive suite of high-quality products, streamlining operations and increasing the reliability of our customers' systems.
“Our investment in Whitman Controls is a great example of the type of businesses we look for in our investments,” said Tim Persek, principal at Advantage Capital. “This company is poised for growth and well-positioned to create quality jobs and drive increased economic activity within our community.”
The investment from Advantage Capital was made in connection with the InvestCT program, which provides financing opportunities to entrepreneurs who are unable to attract traditional forms of capital. According to the Connecticut Department of Economic and Community Development, the program created more than 1,500 jobs from 2016 to 2023. The program helped raise capital for pre-seed and early investments, as well as small businesses and target municipalities that have historically been under-invested. Staging businesses looking to start operations in the state.
Whitman Controls is owned by LDR Growth Partners LP (“LDR”). LDR Growth Partners LP (“LDR”) supports growth-oriented businesses, management teams, and entrepreneurs with capital and precision support to scale their operations and maximize profits based on the value of trust. A focused investment company. Service, creativity, discipline. LDR was founded in 2011, led by a five-person cross-functional leadership team and growing our North American corporate heritage, with a shared vision for business leadership and the ability to build, support, and lead great teams. Founded by a US Army officer. Over a long period of time.
Advantage Capital's investment enabled Whitman Controls to fund LDR's continued efforts to improve operations and accelerate the company's expansion.
“In 2019, LDR recognized the inherent potential for Whitman Controls to not only become a leader in industrial controls, but also strengthen and expand its core business,” said JD Dolan, partner at LDR. I am. “Whitman Controls is now uniquely positioned to deliver high-quality, customized products across a variety of manufacturing applications, driving significant growth in American manufacturing itself and creating ripple effects that strengthen the industry as a whole. ”
About Whitman Controls LLC
Founded in 1968, Whitman Controls LLC is an industry leader in the custom design and manufacture of pressure, vacuum, level and temperature switches and sensors. For more than 50 years, the company has worked closely with design engineers from thousands of OEM companies around the world to develop unique sensor solutions across numerous applications and industries. Whitman Controls is ISO 9001, UL, and CE certified.
About Advantage Capital
Advantage Capital is a leading impact investment firm focused on putting capital into underserved areas. The company provides flexible financing to entrepreneurs who are ready for growth and industries located in regions that do not have access to traditional funding sources. Since 1992, the company has invested more than $4 billion in more than 900 companies and supported more than 67,000 quality jobs. The company also invests purposefully in affordable housing developments and renewable energy solutions to grow economies and communities. For more information, please visit Advantagecap.com.
About LDR Growth Partners
LDR Growth Partners LP (“LDR”) supports growth-oriented businesses, management teams, and entrepreneurs with equity capital and precision support, building businesses based on trust, service, creativity, and values. We are an investment company that focuses on human resources, expanding our business and maximizing profits. Discipline. LDR is led by his five-person cross-functional leadership team, growing our North American heritage with a shared vision for business leadership and the ability to build, support and lead great teams. , was founded in 2011 by a U.S. Army officer. companies in the long run. LDR has a proven track record of successfully improving business operations across a variety of sectors and is the owner of LDR Advisory Partners and LDR Leadership, a firm focused on improving the performance of companies, employees, and leadership.
Advantage Capital is an investment advisory firm registered with the Securities and Exchange Commission. However, such registration does not imply any particular level of skill or training. This release is for informational purposes and to announce previous events, and nothing in this release constitutes an offer to sell or buy any securities or investment products. It should not be construed as a solicitation. All offers of investment interests in funds or investment vehicles managed directly or indirectly by Advantage Capital are made by qualified prospective investments pursuant to a separate and final offering and application document in accordance with applicable federal and state securities laws. This is done only for houses. Advantage Capital is an equal opportunity provider.
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