ORIX Corporation USA’s Private Equity Solutions group announced the successful sale of its portfolio company LCR Contractors (“LCR”) to TopBuild Corp. (NYSE: BLD). Founded in 1984 and headquartered in Mesquite, Texas, LCR is a large spray fireproofing, firestopping, and spray foam insulation company. LCR serves commercial and residential markets in Texas and Tennessee.
The Private Equity Solutions group invested equity in LCR alongside MFG Partners in March 2019. Since then, LCR has experienced rapid growth organically and through acquisitions that positioned the company for this sale.