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LSQ Funding Partners With Lovell Minnick To Accelerate Growth

April 16, 2015, 08:12 AM
Filed Under: Industry News

LSQ Funding Group, a leading technology-enabled provider of working capital solutions for small- and mid-sized businesses, announced that it has received a capital investment of over $100 million in a transaction led by Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry.

The investment will support LSQ Funding’s growth strategies, which are differentiated by a decade of technology innovation, credit IP, and bank partnerships. These differentiators have accelerated LSQ’s growth, which exceeded 85 percent in 2014. Over its twenty years of operating history, LSQ has provided more than $10 billion in invoice advances.

“We’re excited to add an equity partner with proven success supporting high-growth companies like ours,” said LSQ Funding’s CEO and founder Max Eliscu. “We will use this incremental capital to accelerate our investment in automation, revolutionizing the process by which businesses unlock the liquidity tied up in their unpaid invoices. We have always been committed to helping businesses of all sizes, from start-ups sending their first invoices to established companies managing complex supply chains, easily access working capital. We’re now bringing that capability to micro-businesses through automation.”

“The millions of small businesses in the U.S. that experience cash shortages as a result of success — and sometimes obstacles — deserve to have a company like LSQ Funding in their corner to help them meet such challenges,” added Lovell Minnick Managing Director John Cochran. “LSQ’s management team has built an industry-leading brand and an exemplary bank referral partnership model and is now aggressively pursuing automation that will serve even more small businesses. We are excited to bring our experience in specialty finance and in under-served credit markets to the partnership with this innovative team.”

J.P. Morgan Securities LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Lovell Minnick. The Cosine Group, a division of Armory Securities, LLC, served as financial advisor and Wilson Sonsini Goodrich & Rosati LLP served as legal advisor to LSQ Funding.

Founded in 1996 in the Orlando area, LSQ provides specialized accounts receivable financing to growing companies throughout the U.S., offering competitive rates, customized financing arrangements, and personalized service to help them improve profitability and financial security.

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