Nickerson Recapitalizes for Growth with Cross Rapids Capital

BAY SHORE, N.Y., March 24, 2026 /PRNewswire/ -- Nickerson NY, LLC ("Nickerson" or the "Company") announced today that it has completed an equity recapitalization, whereby its financial partner, an affiliate of Chicago Capital Partners, has exited its equity investment after strong growth, and the Company has received a substantial new growth equity investment from an affiliate of Cross Rapids Capital LP ("Cross Rapids Capital").

Founded in 1952, Nickerson has grown from humble beginnings into a leading provider of high-quality equipment and furniture for educational and institutional customers in the Northeast U.S. The Company's extensive product offering spans athletic equipment, bleachers, casework and millwork, maker spaces, classroom, office and cafeteria furniture, auditorium seating, grandstands, lockers, library and media center solutions, scoreboards and digital signage, early childhood furniture, Esports solutions and so much more. Nickerson provides seamless, professional installation and has a dedicated service & repair team, fully certified by its manufacturers, to support customers with ongoing maintenance of all equipment and furniture. Nickerson is an approved vendor on numerous New York and New Jersey as well as national cooperative contracts.

Ms. Stephanie Keller, CEO of Nickerson, said, "Our team is excited to partner with Cross Rapids Capital, who will help us accelerate our growth. We have built this company on a commitment to delivering tailored solutions and exceptional customer service, empowering our clients to learn, collaborate, and grow, and this partnership will allow us to bring even more resources and capabilities to that mission. We thank Chicago Capital Partners for their trust and partnership, and we are enthusiastic about the future of the Company."

Cross Rapids Capital added, "We believe Nickerson is a strong platform for growth, with a 70-plus-year track record of excellence and long-standing relationships with customers as well as leading manufacturers. We are thrilled to partner with the existing management team and build on the Company's strong foundation by expanding the product and service offering, deepening relationships with school districts and institutional customers, and expanding the Company's footprint. Reliable and responsive service to our customers will always be our number one priority."

Mr. Michael Solot from Chicago Capital Partners commented, "It has been our privilege to support the Nickerson team through a period of significant growth. Nickerson is well-positioned to continue to deliver on its mission, and we are grateful to the Company's management team for their dedication and partnership throughout our investment."

Stout Vice Chairman and Managing Director, Mr. Steven Rathbone, concluded, "Working with Stephanie and the Nickerson senior leadership provides an appreciation for a team deeply committed to core values and the success of the people and the organization. As Nickerson approaches its 75^th anniversary we see limitless potential in the continued growth of the company and its team members. Congratulations to Nickerson, Chicago Capital Partners, and Cross Rapids Capital."

Stout Capital LLC served as financial advisor and Levenfeld Pearlstein, LLC as legal counsel to Nickerson. Greenberg Traurig LLP served as legal counsel to Cross Rapids Capital.

About Nickerson NY, LLC

Nickerson supplies equipment and furniture that enhance learning, collaboration and athletic experiences for educational and institutional customers. The Company has partnered exclusively with industry-leading manufacturers, including Draper® Athletics for athletic equipment, Hussey Seating Company for auditorium seating and telescopic bleachers and platforms, ICI Scientific for wood and metal casework and fume hoods, Stevens Industries for laminated casework and millwork, Sturdisteel for outdoor grandstands, and List Industries for corridor and athletic lockers. Nickerson is an approved vendor on numerous New York and New Jersey as well as national cooperative contracts. For more information, please visit nickersoncorp.com.

About Cross Rapids Capital LP

Cross Rapids Capital LP is an operationally driven investment firm, focused on acquiring North American middle-market industrial and services companies. Cross Rapids Capital partners with owners and management teams to accelerate companies, and brings decades of sector, operational, and investing expertise and a hands-on, collaborative approach to empower their business success.

About Chicago Capital Partners

Chicago Capital Partners is a private investment fund which invests in lower middle-market opportunities through buyouts, recapitalizations, and growth equity. CCP invests in a diverse array of industries, partnering with strong leadership teams of competitively advantaged businesses that have credible growth drivers. CCP and management work collaboratively to help the business grow profitably and execute at a higher level to create long-term value.

SOURCE Nickerson NY, LLC