L Squared Capital Partners (“L Squared”) is pleased to announce the successful closing of a single-asset continuation fund for BTX Precision (“BTX” or the “Company”), a leading high-precision manufacturer of mission-critical components and assemblies. The platform’s unmatched breadth of additive and subtractive manufacturing capabilities – including milling, turning, laser micro-machining, advanced 3D metal printing, aluminum vacuum brazing, electrical discharge machining, precision cleaning, and a full suite of value-added assembly services – positions BTX as the go-to partner for the most demanding customers in aerospace & defense, space, medical, automation & robotics, and semiconductor markets.

The continuation fund was led by HarbourVest Partners, with participation from a syndicate of global investors and a new commitment from L Squared Fund IV. The transaction extends L Squared’s partnership with BTX, which began with a platform acquisition in 2023 and has since evolved through ten subsequent acquisitions into the nation’s most trusted provider of advanced build-to-print components, serving more than 350 customers across a nationwide footprint of manufacturing centers.

“This transaction reflects our strong conviction in BTX’s long-term growth trajectory and the value creation achieved to date,” said Randall Hunt, Managing Partner of L Squared. “The continuation vehicle allows us to deliver liquidity to L Squared Fund III investors while extending our partnership with BTX’s exceptional management team to continue our acquisition-led thesis.”

Rick McIntyre, CEO of BTX Precision, said, “We've accomplished a lot very quickly at BTX, and expect to be just as explosive in the next chapter of this story. We are grateful for L Squared’s continued partnership and excited to welcome HarbourVest and several new investors as we accelerate our acquisition strategy and continue to invest in people, process, infrastructure, and customer relationships that make BTX Precision truly special.”

“We are pleased to partner with L Squared and the BTX management team to support BTX’s continued growth and value creation,” said Kyle Dowd, Managing Director at HarbourVest Partners. “BTX exemplifies the high-quality, industry-leading middle-market companies we seek to access through our GP-led secondary strategy and are excited to deepen our relationship with L Squared as the anchor investor in the transaction.”

Evercore served as exclusive financial advisor to L Squared. Gibson, Dunn & Crutcher served as legal counsel to L Squared and Ropes & Gray provided legal counsel to HarbourVest Partners.

About BTX Precision

BTX Precision was formed by L Squared Capital Partners to consolidate the highly fragmented precision components manufacturing market. Through its operating subsidiaries, BTX represents a single source solution for high-quality, tight-tolerance components used in mission-critical applications by customers serving the aerospace & defense, space, medical, automation & robotics, and semiconductor markets. For more information, please visit www.btxprecision.com.

About L Squared Capital Partners

L Squared Capital Partners is a private equity investment firm headquartered in Newport Beach, CA, with approximately $5.3 billion of cumulative capital commitments that seeks to make long-term investments in leading growth companies operating in targeted sectors: Education Technology, Technology-Enabled Services & Software, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the Firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for nearly 20 years, investing in growing private companies. For more information, please visit www.LSquaredCap.com.

About HarbourVest Partners

HarbourVest is an independent, global private markets firm with over 43 years of experience and $150 billion of assets under management as of December 31, 2025. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,200 employees, including more than 225 investment professionals across Asia, Europe, and the Americas. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

This press release is for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors who fully understand the risks of such an investment. L Squared Capital Partners is an investment adviser registered with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260401922352/en/