FineLine Technologies Continuation Fund Launched by L Squared Capital Partners
Deal News | Nov 21, 2024 | L Squared Capital Partners
L Squared Capital Partners has announced the successful closing of a single-asset continuation fund transaction for FineLine Technologies, which specializes in variable data solutions for retailers and manufacturers globally. This transaction enables L Squared to continue its ownership and support the long-term growth strategy of FineLine. The new fund acquired L Squared Fund I's stake in FineLine and includes additional capital for growth initiatives, including strategic acquisitions. The transaction was led by an investor group including Kline Hill Partners, StepStone Group, Churchill Asset Management, and J.P. Morgan Asset Management, marking an oversubscribed transaction. The deal enables a liquidity option for Fund I LPs and drives further growth for FineLine, which has seen revenue more than double since the initial investment by L Squared. FineLine is headquartered in Norcross, GA, and continues to expand its market presence with innovative labeling and RFID solutions. L Squared Capital Partners, based in Newport Beach, CA, focuses on long-term investments in growth companies across sectors such as Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services.
Sectors
- Private Equity
- Technology
Geography
- United States – L Squared Capital Partners is headquartered in Newport Beach, CA, and FineLine Technologies is headquartered in Norcross, GA.
Industry
- Private Equity – The article discusses a transaction involving L Squared Capital Partners, a private equity firm managing a continuation fund for FineLine Technologies.
- Technology – FineLine Technologies provides data-driven labeling, RFID tagging, and barcoding solutions, demonstrating its association with the Technology sector.
Financials
- More than doubled – FineLine Technologies' revenue has more than doubled since L Squared's initial investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| L Squared Capital Partners | Private Equity Firm | Company | A private equity firm based in Newport Beach, CA, focused on long-term growth investments. |
| FineLine Technologies | Target Company | Company | The company provides data-driven labeling and RFID solutions and is the subject of the continuation fund. |
| Kline Hill Partners | Co-lead Investor | Company | An investment firm focusing on the private equity secondary market. |
| StepStone Group | Co-lead Investor | Company | A global private markets investment firm. |
| Churchill Asset Management | Co-lead Investor | Company | Provides financing solutions to U.S. middle market private equity firms. |
| J.P. Morgan Asset Management | Co-lead Investor | Company | A global leader in alternatives with extensive experience managing assets. |
| Robert W. Baird & Co. | Financial Advisor | Company | Served as exclusive financial advisor to L Squared for the transaction. |
| VedderPrice | Legal Counsel | Company | Provided legal counsel to L Squared on the transaction. |
| Stephenson Harwood LLP | Legal Counsel | Company | Acted as legal counsel for the co-lead investor group. |