Lincolnshire Management Inc has made an investment in Buffalo Grove, Illinois-based CrossCom National LLC, a provider of IT services and solutions to North American customers in the retail, automotive, grocery, hospitality, and restaurant industries. No financial terms were disclosed. Metronome Partners LLC was the exclusive financial advisor to CrossCom.
NEW YORK – November 10, 2021 – Lincolnshire Management, Inc., a leading private equity firm focused on investing in and growing middle market companies, today announced it has completed an investment in CrossCom National, LLC (“CrossCom” or the “Company”), a leading provider of IT services and solutions to North American customers in the retail, automotive, grocery, hospitality, and restaurant industries. CrossCom will continue to operate as an independent business under the leadership of President and CEO Greg Miller and the existing management team, which retains a significant ownership interest in the Company. Financial terms of the private transaction were not disclosed.
Founded in 1981 and headquartered in Buffalo Grove, Illinois, CrossCom provides IT infrastructure services and end user support services across the technology asset lifecycle from technology rollouts, staging and configuration to depot repair and maintenance. CrossCom’s customer base is primarily comprised of essential, multi-site national retail chains, grocers, pharmacies, and specialty auto aftermarket chains. The Company supports more than 100,000 customer locations nationwide through its warehouse and help desk facilities and completes over 600,000 service calls annually through its network of field technicians.
“We are excited to partner with the management team of a leading North America IT maintenance service and solutions provider and to invest to grow the business at an inflection point where experience tells us CrossCom is well-positioned to benefit from the recovery of service revenue related to increased foot traffic for these sizable enterprises,” said T.J. Maloney, Chairman and CEO of Lincolnshire Management. “We also believe there are strong opportunities to drive cross-sell opportunities between CrossCom and other Lincolnshire Management portfolio companies, particularly given the strong customer relationships we enjoy at Powerhouse, Security Vault Works and Dentco.”
“Our integrated service offerings create deep customer relationships, and our proprietary IT platform allows us to efficiently and cost-effectively manage job flow while providing complete visibility for our customers,” said Miller. “Our business model is designed specifically to address the needs of multi-site customers. Partnering with Lincolnshire will allow us to grow our network and enhance our critical service offerings as we continue to focus on meeting and exceeding the needs of our customers.”
Lincolnshire Management acquired Powerhouse and Security Vault Works in 2019, and Dentco in 2021 as part of a strategy to build a national platform providing refresh, remodel and facilities maintenance services to a roster of blue-chip customers nationwide including retail, foodservice, financial, hospitality and health care companies.
The transaction was led by Philip Kim, Tad Nedeau and Tom Callahan of Lincolnshire. “CrossCom’s business model gives them a unique ability to quickly respond and efficiently service their national accounts as they are able to reach 100% of customer sites for same-day maintenance needs,” said Nedeau, a Director at Lincolnshire Management. “Their integration with customers’ web services provides unparalleled customer transparency, including real-time reporting, historical data and trend analysis, which reduces downtime while also maximizing revenue and retail customer satisfaction.”
Metronome Partners LLC was the exclusive financial advisor to CrossCom. The transaction was financed by GarMark Partners, LBC Credit Partners and Fifth Third Bank. Greenberg Traurig, LLP provided legal advice to Lincolnshire Management.
About Lincolnshire Management, Inc.
Lincolnshire Management Inc., founded in 1986, is a leading private equity firm focused on investing in and acquiring growing middle market companies across an array of specific industries. Headquartered in New York, Lincolnshire Management invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire Management manages over $1.7 billion of private equity capital and has invested in over 100 companies in its 35 year history. For more information, please visit www.lincolnshiremgmt.com.
About CrossCom National, LLC
CrossCom provides technology support solutions for companies with store infrastructures in retail, grocery, restaurant, and similar environments. We apply best practices, developed and refined over 35 years, to create services and governance processes that result in measurable and repeatable business improvements and value. With an unconditional commitment to our customers’ success, our dedicated team continually innovates to optimize our services, systems, operations, and processes to deliver the best solutions possible for the customers and industries CrossCom serves. For more information, please visit https://www.crosscom.com/.