Holland & Knight Advises LXP in Partnership with Black Creek
PHILADELPHIA (May 10, 2024) – Holland & Knight advised LXP LLC in the recapitalization of Black Creek Integrated Systems Corp. Terms of the transaction, announced on May 3, were not disclosed.
LXP is a private equity firm providing collaborative liquidity solutions to small and medium-sized businesses in the professional services and light manufacturing and distribution industries. LXP's mission centers on an unyielding commitment to the growth and success of partner businesses, leading with culture-building, employee empowerment, management and stakeholder alignment and direct, transparent communication. LXP raises funds for each individual transaction and curates the capital based on the needs of the portfolio company.
Headquartered in Irondale, Alabama, Black Creek is a premier provider of fully integrated public safety software and facility control systems, including annual support services, to high-security corrections environments.
LXP and Black Creek worked with Third Coast Bank, which provided the senior debt financing, and Midwest Mezzanine Funds, which provided subordinated debt financing and a partial equity investment, on the transaction.
Holland & Knight Partners Colby Smith and Keith Sambur led the firm's representation of LXP. They were assisted by Partners Kendall Wilson, Bradley Van Buren, Brandon Bloom, Paul Greenwood and Robert Warram, Associates Dayle Lower, Sean Minorini, Tyler Stephens, Cristina Salazar, Allison Krause, Jackson Oliver and Amanda Fantauzzo, and Paralegals Leslie McGuire and Brooke Freeman.
Holland & Knight's full-service Independent Sponsors Team advises independent sponsors, single-check equity backers, co-investors and debt financing sources in connection with all facets of independent sponsor transactions, including acquisitions, majority and minority equity investments, ongoing portfolio company maintenance and capitalization work, and exits.
The firm regularly ranks among the leading M&A firms in benchmarking league tables published by Bloomberg, LSEG (formerly Refinitiv), Mergermarket, PitchBook and The Deal. In 2023, Holland & Knight ranked among the top five most active law firms in the U.S. and top 10 globally for its work in the space. Through the HK Deal FlowSM program, Holland & Knight facilitates deal leads for clients and prospective clients by matching acquisition or capital raising opportunities with buyers and investors.