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.”