Element 78 Capital has sold its interest in construction services company Cambium United
CHICAGO, July 13, 2017 /PRNewswire/ -- Element 78 Capital has sold its minority interest in Cambium United, a diversified construction services company operating in the Commercial Relocatable Buildings and Site Services industries. This transaction completes the successful exit of E78 Capital's first investment as an independent sponsor.
John Signa, Co-founder and Managing Director of E78 Capital, said, "We are extremely pleased with the outcome of our investment in Cambium and the success of the initiatives to enhance the business, which included developing and implementing a strategic growth plan, strengthening the senior management team, acquiring a competitor in an attractive adjacent market, and driving financial innovation."
Signa continued, "Cambium has nearly doubled in size and significantly improved its financial performance over the course of our involvement. The sale of our interest completes the successful exit of our investment in advance of the expected timeline."
Cambium has achieved substantial growth through the leadership of its management team, led by CEO Nick Mackie. "We are excited to recognize John and his team, who have been exceptional assets to our company," said Nick Mackie. "John is passionate about helping entrepreneurs build their companies into true market leaders. Throughout his tenure as our outsourced CFO and board member, John provided tremendous financial leadership and wise counsel to our company, and deserves this recognition. With our growth strategy now well-defined and the company having the capital it needs to execute on its growth initiatives, Cambium is poised for continued success."
About Element 78 Capital
Element 78 Capital, LLC makes minority investments in niche, service-based businesses in the lower middle market where we can actively participate in the development and future success of each enterprise. Many small businesses do not have sufficient financial and operational resources to drive profitable growth. Drawing on the deep financial management and transaction experience of its principals, Element 78 Capital was founded with the intent and ability to empower business owners to achieve their goals through operational excellence and access to capital markets.
For further information about Element 78, please visit: www.e78advisors.com
About Cambium United
Cambium United, L.P., through its subsidiaries, operates as a diversified construction services company. The Commercial Modular Buildings segment engages in the sale and leasing of permanent and relocatable custom modular buildings. This segment serves a diverse group of markets and industries, including construction, healthcare, education, government, and disaster relief. The Site Services segment is involved in the rental of specialty construction products, such as portable restrooms, trailers, temporary fencing and safety equipment. It serves construction companies involved in residential and commercial development projects, as well as municipalities and the special events market. Cambium United, L.P. was founded in 2016 and is headquartered in Plano, Texas.
For further information about Cambium United, please visit: www.cambiumunited.com
SOURCE Element 78 Capital
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