BETHESDA, Md./PRNewswire/ -- RLJ Equity Partners, LLC and LAI International, Inc., today announced the acquisition of Zak Incorporated (Zak), a full service manufacturer and certified turnkey supplier that provides precision machined and custom fabricated components for customers in power generation, specialty metals, and oil and gas.
Founded in 1937 and headquartered in Green Island, New York, Zak is an established brand throughout the power industry and has built and maintained an exceptional reputation for its manufacturing capabilities and range of services that include the gas turbine, steel, and specialty metals industries. Zak has a highly skilled management team and an experienced staff of more than 50 associates. It utilizes its large, state-of-the-art, precision machining and welding capabilities to serve customers in the United States and abroad.
"RLJ Equity Partners is delighted to support LAI's acquisition of Zak Incorporated," said RLJ Equity Partners' T. Otey Smith. "With its strong customer base in key end markets, Zak helps to further expand the LAI brand as well as our service offerings throughout the industry."
"Zak is a trusted brand in our industry," said Patrick "PJ" Gruetzmacher, CEO and President of LAI International. "Their ability to provide economically manufactured parts with superior speed and quality which meet or exceed their customers' expectations is accomplished by applying the principles of employee development, advanced technology investment, and by using the principles of continuous improvement."
"We are delighted to create this strategic alliance with RLJ and LAI International," said Douglas Zak, Chairman of Zak Incorporated. "Being part of the LAI brand will help Zak continue to provide our core technologies to the growing opportunities in the oil and gas sector as well as the aerospace markets."
LAI International is a leading contract manufacturer of precision-engineered finished parts, components and subassemblies for aerospace, power generation, defense, medical, electronics and other advanced technology industries. LAI's technology, engineering and manufacturing solutions are used to build components for airframes, aircraft engines, power generators, defense systems, medical devices and other mission-critical applications. LAI International was acquired by Bethesda, MD-based private equity firm RLJ Equity Partners in 2012. Founded by Robert L. Johnson, RLJ Equity Partners, LLC is an affiliate company of The RLJ Companies.
With the acquisition of Zak Incorporated, LAI now has manufacturing facilities in Tempe, AZ; Fridley, MN; Westminster, MD; Scarborough, ME; and Green Island, NY.
About RLJ Equity Partners: RLJ Equity Partners is a middle-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. Founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group, RLJ originates structures and invests in traditional buy-outs, recapitalizations, and growth capital infusions. RLJ Equity Partners is a portfolio company of The RLJ Companies. For more information, visit www.rljequitypartners.com.
About LAI International, Inc.: LAI International is Leading Applied Innovations of conventional and non-conventional engineered finished parts, components and subassemblies for aerospace, power generation, defense, medical, electronics and other advanced technology industries. Our technology, engineering and manufacturing solutions are used to build components for airframes, aircraft engines, power generators, defense systems, medical devices and other mission-critical applications. With five U.S. production operations, LAI has provided superior manufacturing solutions and comprehensive component overhaul and repair services for the world's leading OEMs. Since 1961, LAI's manufacturing solutions and services have earned a reputation for excellence throughout the world. To learn more about LAI, visit its website at www.laico.com.
About Zak Incorporated: Founded in 1937 by Alexander F. Zak, Zak Incorporated was originally established as a job shop to serve the local textile industry in Troy, NY. Through over 75 years of development and growth, Zak Incorporated has expanded to become one of the Northeast's premier contract manufacturers. With the same commitment to customer satisfaction through teamwork, dedication, and pride, Zak Incorporated now primarily serves the power generation industry, the oil & gas industry, and the specialty melting industry. For more information, visit www.zakinc.com.
