November 1, 2016
LNC Partners Invests in OutSolve
Reston, VA – November 1, 2016. LNC Partners (“LNC”) is pleased to announce that it recently completed an investment in OutSolve, LLC, a leading provider of affirmative action planning and compliance services for federal contractors. OutSolve’s co-founder Jeremy Mancheski remains President and CEO of the company as well as a significant shareholder. LNC partnered in this transaction with Five Points Capital, and Alliance Partners LLC provided senior debt financing.
OutSolve provides comprehensive affirmative action planning and compliance solutions to help federal contractors meet the full requirements of Executive Order 11246, the Vietnam Era Veteran Readjustment Assistance Act (VEVRAA), and Section 503 of the Rehabilitation Act of 1973, among other regulations. OutSolve provides a wide range of services, including developing comprehensive, OFCCP compliant affirmative action plans, offering OFCCP audit support, and creating EEO-1 reports that comply with the requirements of the U.S. Equal Employment Opportunity Commission (including significant recent regulatory expansions requiring the reporting of compensation data).
The investment provides OutSolve with access to both significant additional capital and strategic expertise to support the company’s growth strategy, including both organic growth and the acquisition of other compliance services firms. OutSolve is already evaluating numerous acquisition targets and strategic partnerships.
Jeremy Mancheski, President and CEO of OutSolve, noted, “I am excited about the potential for this partnership to unlock the true growth potential of our platform. Our commitment to our current customers and employees remains unwavering, and we now have the strongest capital base in our company’s history from which to expand our services and market presence.”
OutSolve also added William Phelan as an investor and Board member. Earlier in his career, Mr. Phelan co-founded Charter Brokerage, a provider of outsourced compliance services to importers and exporters in the U.S. and Canada. Mr. Phelan served as Charter’s Executive Chairman until it was sold to Berkshire Hathaway in December 2014.
About LNC Partners
LNC Partners is a Northern Virginia based private equity firm with over $235 million of capital under management that provides flexible capital solutions to lower middle market companies. The firm seeks companies that generate at least $2 million of EBITDA across a broad range of industries and places an emphasis on executive-owned and family-owned businesses.
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