Bessemer investors acquire Leonard Valve Company

Leonard Valve Company (Leonard), a designer and manufacturer of water temperature control valves and monitoring devices, and Bessemer Investors LLC (BI), the New York-based private investment firm, announced that BI has completed the acquisition of Leonard. Through this transaction, BI has partnered with Leonard’s existing management team to provide liquidity for selling shareholders and provide capital for supporting future growth initiatives. Financial terms of the transaction were not disclosed. Leonard’s management team, consisting of President E. Niles Wilcox and other executives, will lead Leonard going forward and will retain a minority stake in the Company. 
BI, a private investment firm, was formed in early 2018 to continue a long legacy of private investment vehicles backed by the Phipps family. BI invests in middle-market companies that can benefit from its long-term, flexible capital and the team of experienced private equity investment professionals. BI seeks to invest USD 50 – USD 150M of equity per transaction in a variety of sectors, including industrials, business services, and consumer products and services.
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