Exclusive financial advisor to NSL Analytical Services

KPMG Corporate Finance LLC (“KPMG CF”) is pleased to announce the sale of NSL Analytical Services (“NSL” or the “Company”), a portfolio company of May River Capital (“May River”), to Levine Leichtman Capital Partners (“LLCP”).

NSL is a leading materials testing provider serving a diverse client base across highly-regulated and technologically-advanced end markets, including aerospace & defense, advanced materials, and electronics, among others. NSL’s experienced chemists, metallurgists and technicians are experts in testing a wide range of materials and finished components, serving the recurring and non-discretionary testing needs of clients throughout the U.S. and across the world. The Company is committed to providing testing speed, accuracy and exceptional customer service, acting as a critical partner in fulfilling customers’ operational and compliance requirements. NSL was founded in 1945 and serves its customers from the Company’s laboratories located in Cleveland, Ohio.

Ron Wesel, CEO of NSL, commented, “Thanks to our loyal customers, our wonderful team, and our partners at May River, NSL today is poised to continue its legacy as a trusted provider of advanced materials testing services.  Our new partnership with LLCP will further guide and fuel NSL’s growth in support of the critical quality assurance testing our team delivers to clients world-wide.” 

Pat St. John, Managing Director at May River, commented, “We are incredibly proud of the achievements of NSL and its team under May River’s ownership. These strategic efforts have resulted in impressive growth and have positioned the business as a trusted supply chain partner across a number of mission-critical, high-performance industries.”  St. John went on to comment, “It’s clear that LLCP’s investment approach is a perfect fit for NSL – LLCP’s experience will be key in helping NSL execute on its growth plans, which will ultimately result in enhanced value delivered to NSL’s clients.”

About May River Capital

May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services.  For more information, please visit www.mayrivercapital.com

About NSL Analytical Services

Founded in 1945, NSL Analytical Services provides independent laboratory testing services to a diverse array of customers and end markets where testing speed, accuracy, and consistency is mission critical to operations and compliance. NSL serves over 1,700 global customers from two facilities located in the Cleveland metropolitan area.  For more information, please visit www.nslanalytical.com

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity. For more information, please visit www.llcp.com

KPMG Corporate Finance

The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.