NEWPORT BEACH, Calif., Sept. 11, 2014 /PRNewswire/ -- Solis Capital Partners (Solis), a lower middle-market private equity firm, today announced that it has made an equity investment in LEHR LLC. (LEHR), an award winning provider of innovative and environmentally friendly propane–powered products and tools.
Founded in 2007 and headquartered in Los Angeles, California, LEHR currently produces a line of propane-powered outboard marine engines in a variety of low horsepower configurations. Propane is a clean burning fuel that provides significant environmental benefits over traditional gasoline, including reduced green house emissions, lower particulate matter emissions, and less smog producing hydrocarbons. In addition, propane-powered engines offer users significant economic benefits, including lower relative fuel prices, greater efficiency and lower cost of operation.
"LEHR is an exciting investment for us," said Daniel Lubeck, Managing Director and Founder of Solis. "Not only does LEHR have exceptional and innovative products, but a highly experienced management team with the desire and capability to grow the existing business and expand the technology into other verticals."
"With breakthrough products that offer clear economic and environmental benefits, LEHR has the potential to transform the industry. We look forward to partnering with LEHR to realize this potential," added Josh Harmsen, Principal at Solis.
"Partnering with Solis is a significant step in LEHR's evolution," said Bernardo Herzer, Founder and CEO at LEHR. "Solis brings valuable experience and strategic and financial resources, that will help realize the global potential for our award-winning, patented products and technology. The world is demanding environmental awareness and green solutions. We address this by delivering cleaner, greener and more reliable alternatives, with significant economic benefits to the customer."
Solis Capital Partners is private equity investment firm specializing in the lower middle-market. It is headquartered in Newport Beach, CA. Solis focuses on companies in the Western U.S. with revenues of $15 to $100 million in the service, niche manufacturing, and software sectors. The firm is actively investing through Solis Capital Partners II. For additional information, see www.soliscapital.com.
LEHR Inc. is a leading provider of award winning, environmentally friendly, propane-powered products and tools. Dedicated to a cleaner planet through environmentally friendly technology, the LEHR family of products utilizes a patented technology, which ensures that they are the cleanest, greenest and most reliable tools on the market today. For additional information see www.golehr.com
SOURCE Solis Capital Partners