Stamford, CT, December 2, 2020: TrueNorth Capital Partners LLC is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as the exclusive financial advisor to LPI Inc. (“LPI”) in acquiring substantially all of the assets of Golf Cart World Inc. (“The Beast”).

The acquisition was structured as an asset purchase by LPI. LPI’s acquisition of The Beast will allow them to increase their footprint by expanding further into consumer, retail and recreational markets in the U.S and abroad.

Fred Rossetti, a Managing Director at TrueNorth and Lead Banker on this transaction commented that, “it was a privilege to represent our long time client, LPI, on this transaction. There is no doubt that the addition of The Beast will greatly enhance LPI’s core consumer products business unit as well as provide direct access and increased market penetration to the rapidly growing electric vehicle consumer market.”

Founded in 2009 and employing over 600 people, LPI Inc. is headquartered in Johnson City, Tennessee. With over 320,000 square feet of manufacturing space, LPI Inc. provides the platform from which the company sells, builds and ships Dr. Wellness Therapy Spas, Solar Wave Spas, Solar Storm Spas, and ESB Tanning Beds. LPI Inc.’s retail shops are located across the country in 36 locations in 23 states.

TrueNorth, with offices in Stamford, CT, Charleston, SC, Central, NJ, Naples, FL, Minneapolis, MN, Kansas City, KS and London, UK, is a boutique investment bank comprised of senior bankers providing a full complement of middle-market financial advisory services. TrueNorth’s bankers have completed hundreds of M&A (both sell-side and buy-side), capital-raising, and restructuring transactions across a broad range of industries. TrueNorth is active in cross-border transactions, and works extensively with Japan-based clients.

Any further inquiries can be directed to TrueNorth at the contact information provided below:

Fred Rossetti, Managing Director
Stamford Office
Direct Dial Phone Number (203) 817.0276
E-mail address: frossetti@truenorthcp.com

Clay Risher, Director – Business Development
Stamford Office
Direct Dial Phone Number (203) 817.0286
E-mail address: crisher@truenorthcp.com

About TrueNorth Capital Partners LLC:
TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. With offices in Stamford, CT, Charleston, SC, Central, NJ, Naples, FL, Minneapolis, Kansas City, KS and London, UK TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of financial advisory services. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held middle-market companies, private equity and family office groups and corporate clients, both domestic and international, across a broad range of industries. TrueNorth conducts its securities related business through its wholly owned subsidiary, TNCP, LLC, member FINRA/SIPC.

About Scout Valuations LLC:
Scout Valuations, a wholly-owned subsidiary of TrueNorth, is fully dedicated to business valuation. We provide thorough, independent valuation analyses together with superior client service and responsiveness. Our analyses combine a detailed understanding of the business, industry and economic context, with the insight to address complex valuation issues regarding your business.