The team at LFM Capital has made its first investment from the local private equity firm’s second fund, buying a stake in a Minnesota company that designs and makes precision machining equipment.

Terms of LFM’s investment in ShopSabre, which is based just south of Minneapolis, aren’t being disclosed. LFM typically puts its money to work in companies with at least $3 million of EBITDA and enterprise values from $15 million to $125 million. The firm closed its second fund last fall at $185 million; its first was $110 million.