Lydall, Inc. (NYSE: LDL) was looking to divest its non-core operating subsidiary, Lydall Transport, Ltd. (“Transport”). Transport provides distribution, transportation and warehousing services and specializes in time-sensitive shipments and warehouse management for the paper and pulp industry.
- Transport was no longer considered to be a core focus for its parent
- Management was seeking to quickly exit the business to focus on its core business operations
- Transport was facing difficulty in its current operating environment. Increasing fuel costs and the loss of two key customers impacted interim profitability.
- Anderson LeNeave contacted numerous strategic and financial buyers
- Lydall Transport, Ltd. was sold to LTL Acquisition, LLC, a company formed by Pine Creek Partners, LLC and the transaction closed within 60 days of executing the LOI