Reston, VA - July 7, 2015. LNC Partners ("LNC") is pleased to announce that on June 30, 2015, it invested senior secured debt and equity in Narcote, LLC (“Narcote” or the ”Company”) through a recapitalization led by LNC Partners and the Company's management team. Narcote designs, engineers, and applies coatings and laminates to textiles requiring advanced barrier properties to meet specific customer requirements. Led by CEO Cary Green and EVP Rolf Rupprecht, Narcote’s executive team will remain significant investors in the Company and will continue to manage day-to-day operations.
“We are very excited about our partnership with LNC. They have experience building lower middle market companies and flexible capital to help us meet our growth objectives,” said Cary Green, CEO of Narcote. He went on to add, “LNC has demonstrated a true partnership approach throughout this process that we believe will help us take advantage of opportunities to enhance our capabilities and grow Narcote to its full potential."
"We are extremely impressed by Narcote’s talented management team. Cary and Rolf represent ideal partners for LNC, and we are thrilled to support them and their pursuit of growth opportunities for the business,” said Mark Raterman, Managing Partner of LNC.
Richmond, VA based Matrix Capital Markets Group served as Narcote's exclusive financial advisor.
About LNC Partners
Based in Northern Virginia, LNC Partners is a licensed Small Business Investment Company with over $235 million of capital under management that provides debt and equity capital to lower middle market companies. LNC Partners invests across a broad range of industries and typically provides between $5 million to $20 million of capital to companies in support of buyouts, recapitalizations, refinancings, and acquisition and growth financings. The firm seeks companies that generate at least $2 million of EBITDA and places an emphasis on management-owned and family-owned businesses.
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