Warburg Pincus has acquired a majority ownership stake in Crossmark, a leading provider of sales and marketing services to retailers and suppliers.
The companies said they entered into a definitive merger agreement whereby Warburg Pincus will make a majority investment of an undisclosed amount in Crossmark that allows for the management owners of the company to maintain a significant equity position and continue to actively lead the company after the transaction closes.
"The Warburg Pincus partnership will provide growth capital that will allow Crossmark to make acquisitions, expand our service offerings, and further enhance our capabilities to deliver even better service to our clients and customers," said Crossmark CEO John Thompson. "We are pleased to have a partner with a common vision and a track record of backing management with resources, expertise and relationships."
Crossmark has experienced strong growth in recent years and the industry in which it operates has attractive fundamentals due