Industry: Manufacturing; Concrete Construction
Date of Acquisition: July 2018
Location: Darien, WI
Ligchine International Corporation (“Ligchine”) designs, manufactures, and markets laser-guided boom screeds that provide high-accuracy floor leveling for commercial concrete contractors. Founded in 2009, the Company has grown rapidly to become the worldwide market leader in its niche. Ligchine’s current product family offers four distinct models across a range of feature sets, price ranges, and applications. Ligchine sells its product direct to contactors in the U.S. and via distribution partners globally. The Company’s highly-engineered, patent-protected products are specialized for concrete flatwork and offer a distinct value-proposition for customers including exceptional floor flatness quality, significant labor savings vs. manual screeding, and exceptional productivity.
In 2018, Hanover Partners and an institutional partner made a significant strategic investment in Ligchine. The Company’s co-founders (CEO and VP of Engineering) continue to have active roles in the Company as well as maintaining significant ownership positions.
In 2022, after the Company doubled in size over four-years during Hanover’s investment period, Ligchine was sold to a financial sponsor.