LNC Partners Acquires Tax Preparation Software Provider CrossLink Professional Tax Solutions.
M2 EQUITYBITES-February 28, 2018-LNC Partners Acquires Tax Preparation Software Provider CrossLink Professional Tax Solutions
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28 February 2018 - California, US-based professional tax preparation software provider CrossLink Professional Tax Solutions has been acquired by US-based private equity firm LNC Partners from its existing ownership, the Petz family, the company said.
Terms of the deal were not disclosed.
LNC partnered with the company's CEO, Reynold Sbrilli, who has been instrumental in growing the business into an industry leader over the past six years.
Sbrilli and his executive team will continue managing CrossLink's day-to-day operations.
LNC is headquartered in Reston, Virginia, and its managing partners have invested over USD 1.5bn of capital in over 50 different companies across a range of industries.
Moving forward, the company will do business as CrossLink Professional Tax Solutions and will continue to sell and market its suite of professional tax software solutions as CrossLink Professional Tax Software.
CrossLink Professional Tax Solutions, makers of the CrossLink suite of tax software products, is a provider of tax preparation solutions for the professional tax preparation market.
Based in Tracy, California and with operations in Orlando, Florida, CPTS is dedicated to enabling professional tax preparers to grow their tax-based businesses with tax software solutions.
LNC Partners is a Northern Virginia based private equity firm with over USD 235m of capital under management that provides flexible capital solutions to lower middle market companies.
The firm seeks companies that generate at least USD 2m of EBITDA across a range of industries and places an emphasis on executive-owned and family-owned businesses.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 28, 2018|
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