LBC Small Cap provided an investment to back Lincolnshire Management’s acquisition of CrossCom National, a Buffalo Grove, Illinois-based provider of IT infrastructure services and end user support services. No financial terms were disclosed.
LBC Small Cap Supports Lincolnshire Management’s Acquisition of CrossCom National
LBC Small Cap provided a bifurcated lien term loan and equity co-investment to support Lincolnshire Management Inc.’s (“Lincolnshire”) acquisition of CrossCom National, LLC (“CrossCom” or the “Company”).
Founded in 1981 and headquartered in Buffalo Grove, IL, 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 Lincolnshire, a well-established sponsor in the industry with relevant experience, and the strong management team at CrossCom, who have successfully provided critical IT infrastructure services and solutions to essential multi-site customers across America for over 35 years,” remarked Don Rice, Partner at LBC Small Cap.
LBC Small Cap partnered with GarMark Partners to provide the bifurcated lien term loan to CrossCom.
Founded in 1997, GarMark Partners is a private investment firm with main offices in Stamford, CT and Vero Beach, FL. The firm provides debt and structured equity capital to sponsored and non-sponsored middle-market companies across multiple sectors including manufacturing, industrial, business services, transportation, food, restaurants, consumer, education, energy, healthcare and financial services industries.