CROSSPLANE CAPITAL MANAGEMENT, LP

Thesis

Crossplane Capital Management, LP is a private equity firm founded in 2018, specializing in control equity investments within the lower middle market of industrial business services, niche manufacturing, and value-added distribution. They primarily target family-owned businesses and companies facing complex situations, aiming to drive value creation through operational improvements. Their investment strategy focuses on acquiring control equity in US and Canadian companies with revenues between $40M-$200M and EBITDA of $5M-$20M. They seek businesses with strong niche market share, pricing power, or those experiencing underperformance with significant value creation potential. Crossplane also considers companies in out-of-favor industries or regional/national leaders in fragmented markets. They are open to various transaction situations, including corporate carve-outs, restructurings, and bankruptcies, emphasizing speed and certainty of closing. Initial platform investments are typically up to $150 million. The firm has raised over $730 million since its inception, with its first fund closing at $275 million in 2020 and its second fund closing above its $325 million target in 2022.

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• Series C+ investors based in Dallas, TX