LNC PARTNERS

Thesis

LNC Partners is a private equity firm founded in 2012 and based in Reston, Virginia. They focus on providing flexible capital solutions to lower middle-market companies in the United States, with a particular emphasis on business-to-business and professional services, often with a tech-enabled platform. LNC Partners operates as a Registered Investment Adviser and targets companies with at least $5 million in annual revenue and an EBITDA between $2-10 million. Their investment strategy includes equity (control or minority stakes) and debt investments, covering management buyouts, leveraged buyouts, recapitalizations, strategic acquisition financings, growth capital investments, and minority and dividend recapitalizations. They emphasize a relationship-driven approach and work closely with management teams. Sectors include business services, technology and software, information services, financial and insurance services, healthcare services, education and training, distribution, government services, and niche manufacturing. The firm has managed over $1 billion of capital across its funds, with LNC Partners III closing at $325 million. They typically invest $10 million to $30+ million per deal.