ERA Industries acquired by L Squared Capital Partners

Chicago-based ERA Industries, a leading manufacturer of precision machined components predominately for the Aerospace and Defense and Medical Sectors has been acquired by L Squared Capital Partners. The leadership team led by Hubert Bieniewski as President of ERA will remain in place and continue to operate the business, and several members of the ERA ownership group continue to partner with L Squared in hopes of writing a next chapter in the company’s storied history that is as rich in tradition as its past.

ERA was founded in 1982 and has completed multiple small, but accretive add-on acquisitions in the Chicago-land area since that time under the original ownership. Currently, ERA operates out of two facilities, one in Elk Grove Village, IL (HQ) and another in Wheeling, IL. Between the two manufacturing sites, ERA boasts approximately 130,000 sf of precision manufacturing space and employs more than 200 workers.

Randall Hunt, Partner at L Squared was quoted as saying, “we are very excited to be partnering with Hubert and the ERA management team to double down on the historic growth of ERA”. Hunt went on to say that, “L Squared continues to see a lot of opportunity in the industrial services sector and feels strongly that it will serve as the perfect partner for the ERA team and follow-on acquisitions which we expect to pair with ERA as part of a precision components platform build”.