CrossCountry Consulting Recapitalized by Investcorp
LOS ANGELES, Dec. 8, 2022 /PRNewswire/ -- RLH Equity Partners is pleased to announce that Investcorp, a global alternative investment firm, and Public Sector Pension Investment Board have acquired a majority ownership position in RLH's portfolio company, CrossCountry Consulting ("CrossCountry" or "Company") from RLH and CrossCountry management. RLH reinvested in the recapitalization transaction, reflecting our confidence in the Company's outstanding management team and long-term fundamental growth trends. Looking forward, the Company is seeking to enhance its high rate of organic growth with acquisitions of focused technology consultancies and accounting advisory businesses.
Founded in 2011, CrossCountry provides accounting, finance, risk, operations, cyber, and technology-enabled transformation solutions for the Office of the CFO in public and private organizations. The Company has over 700 professionals and currently represents clients in the private equity, financial services, life sciences, real estate and hospitality sectors, among others. Its footprint has grown significantly over the past 10 years with employees now located across the United States and globally.
RLH Managing Directors J. Christopher Lewis and Ryan Smiley commented, "CrossCountry possesses multiple attributes that RLH seeks in our investments, including high-value professional services solutions, a history of profitable growth, and strong support from macro trends. Since RLH's original investment in the Company, CrossCountry has delivered extraordinarily rapid organic growth while scaling an award-winning culture. These accomplishments are uncommonly paired and are a hallmark of the Company's exceptional leadership." CrossCountry earned recognition from Glassdoor as among the top 50 Best Small and Medium Places to Work in the US in both 2020 (holding the #2 spot) and 2021. Concurrently, with RLH's guidance, the Company enhanced its sales techniques, started and built practices in cybersecurity, data analytics, and private equity advisory to diversify its revenue streams, and expanded CrossCountry's global presence. RLH congratulates the Company's founders - David Kay and Erik Linn - and the entire CrossCountry organization on their achievements and looks forward to our continued collaboration.
Guggenheim Securities, LLC served as financial advisor to CrossCountry, Clearsight Advisors advised RLH Equity Partners, and Houlihan Lokey acted as the advisor to Investcorp and Public Sector Pension Investment Board.
RLH Equity Partners invests, together with entrepreneurial leadership teams, in uniquely positioned, high growth, knowledge-based B2B enterprises. Our portfolio companies span the business services, healthcare, and government services sectors and typically have $30-150 million of annual revenue at the time of investment. The RLH investment team, which averages 15 years of private equity experience, provides strategic and operational guidance to our portfolio companies in navigating the opportunities and challenges of scale and rapid growth. Our insights and processes to drive enterprise value have been honed over RLH's 40+ year history of successful investing. RLH currently manages over $1 billion of assets and is actively seeking new portfolio company investments.
Contact
For more information please contact:
Jessica Bramwell
Director of Communications
RLH Equity Partners
949-428-2205
[email protected]
www.rlhequity.com
SOURCE RLH Equity Partners
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