LOS ANGELES, Feb. 3, 2016 /PRNewswire/ -- LAC Group, a leading provider of mission-critical outsourced library, information, and knowledge management services, announced that it has received an investment from TZP Growth Partners I, L.P. ("TZP Growth"), a private equity fund focused on investments in growing business and consumer services companies and part of the TZP Group family of funds.
Founded in 1986, LAC is a pioneer of outsourced library, information, and knowledge management services to blue-chip customers including corporations, government agencies, law firms, financial institutions, and universities. LAC's value proposition lies in its ability to cost-effectively manage and curate client-created and third party information, data, and content in a high quality manner. Utilizing a team of highly skilled librarians, analysts, and researchers, LAC provides three core, integrated service offerings – Managed Services, Spend Management, and Media Asset Curation and Storage.
"LAC's market leader status, unrivaled team, and compelling value proposition position the business extremely well for growth within existing channels and adjacent markets," said TZP Growth Partner, Bill Hunscher. "We are thrilled to partner with Deb Schwarz, Rob Corrao, and the rest of the management team to continue to build the business by investing in the LAC's infrastructure, driving new customer acquisition, expanding service offerings to existing customers, and penetrating new markets."
"This recapitalization greatly facilitates our ability to enhance our technology and systems, recruit additional top-tier talent, and expand the breadth of our services to accelerate our growth to new heights," said Deb Schwarz, Chief Executive Officer. "We are highly impressed with TZP's commitment to serving as a 'Partner of Choice' and maintaining a Code of Values that mirrors and supports the mission and vision of our company. We look forward to a great long term partnership with TZP Growth."
About LAC Group
LAC Group is a market-leading, outsourced provider of library, information, and knowledge management services to blue-chip customers including corporations, government agencies, law firms, financial institutions, and universities. Founded in 1986 and based in Los Angeles, CA, LAC is a leader in the outsourced business services market and has a strong track record of delivering high-quality, cost-effective services that help organizations manage and curate physical and digital information, data, and content. For more information, please visit LAC-Group.com
About TZP Group LLC
TZP Group, a private equity firm with assets under management of more than $700 million across its family of funds, is focused on investments in business and consumer services companies. Founded in 2007, TZP targets companies with solid historical profitability and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies where the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and transaction experience to provide strategic and operational guidance, and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.
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SOURCE LAC Group