Seacoast Capital has made an investment in El Segundo, California-based Gracelock Industries, an ecommerce marketplace platform. No financial terms were disclosed.
December 19, 2017 – San Francisco, California.
Seacoast Capital, a lower middle market non-control growth capital investor, announced today its $19 million investment in Gracelock Industries (GLI). The investment was Seacoast’s fifth 2017 non-controlling platform investment.
GLI, headquartered in El Segundo, CA, is an innovative e-commerce marketplace platform focused on transforming large, fragmented industries through online commerce, community, and feature-rich content. Seacoast’s investment in GLI will primarily be used to fund the Company’s continued growth and expansion into other attractive vertical markets but to also refinance some of its existing indebtedness and supply it with a platform for accelerated growth.
“With our investment in GLI, Seacoast was able to partner with a Company at the forefront of e-commerce,” said Timothy Fay, a Partner with Seacoast Capital.
“Seacoast exceeded all of our expectations during our capital raising process,” commented GLI management. “We were looking for a partner that could help us grow, not just a lender or financier. After executing our own diligence on Seacoast and its competitors, the Seacoast choice was clear. We look forward to a long partnership with them.”
About Seacoast Capital
Founded in 1994, with offices in Boston, MA and San Francisco, CA, Seacoast Capital invests unsponsored non-controlling growth capital in partnership with management in lower middle market companies. Seacoast is industry agnostic and typically invests $5 million to $30 million of capital in companies with $10 million or more in revenue and $2 million or more of EBITDA. Capital is used to support growth, refinancings, acquisitions, shareholder liquidity events, and partnership or management buyouts. Geographically, Seacoast invests anywhere in the United States. Since its inception, Seacoast has managed over $600 million of capital, which the firm has invested in 68 non-controlling transactions. Now managing its fourth fund, Seacoast Capital Partners IV, L.P., the firm continues to actively seek new investment opportunities. Learn more by visiting www.seacoastcapital.com.