Blue Sage leaves Ligchine International Corporation

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AUSTIN, Texas–(BUSINESS WIRE)–Blue Sage Capital (“Blue Sage”) today announced the closing of the sale of International Society of Ligchine (“Ligchine”) to RAF Industries, Inc, a long-term capital provider based in Philadelphia, Pennsylvania. Ligchine is a leading designer, manufacturer and distributor of laser guided boom screeds used for concrete placement. The company’s equipment uses state-of-the-art technology to automate the flat concrete finishing process, delivering top-notch flatness and leveling. Ligchine’s product portfolio includes a full range of high performance boom clevises, sinking machine and a number of other products on the drawing board. Blue Sage invested in Ligchine in August 2018 through its partnership with Peter and Gary Ligman (founders of Ligchine), Hanover Partners and Dave Ring, CEO.

Blue Sage Partner, Eric Weinerexclaimed, “Ligchine is a great example of partnership between Blue Sage and the founders, increasing the management team and investing in growth. Over the past four years or so, Ligchine has nearly doubled its sales team to increase its geographic coverage and added 3 new models to its product line. Hanover Partners Founding Partner John Palmer added, “Hanover commends Ligchine’s management team for developing the foundations built by Ligmans and accelerated Ligchine’s growth trajectory.

Blue Sage and Ligchine were represented in the transaction by CIBC Cleary Gull (investment advisory), Queen Saenz + Schutz PLLC (legal), Sikich LLP (accounting) and Cherry Bekaert (tax).

About Blue Sage Capital

Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable and growing lower-middle market businesses since 2002. Blue Sage currently manages over $400 million in assets and is seeking to s partner with founders, families, and management teams as a first round of institutional capital for companies that hold leadership positions in niche manufacturing, environmental solutions, or specialty services. Blue Sage typically invests between $20 million and $40 million in buyout investments and corporate recapitalizations with revenues of $20 million to $200 million.

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