Warburg Pincus acquires majority stake in Crossmark
PLANO, Texas — Consumer goods sales and marketing services company Crossmark will merge with an affiliate of private equity firm Warburg Pincus, Crossmark said Wednesday.
The company announced a majority investment by the New York-based firm, saying Crossmark's management owners would maintain a significant equity position and continue to actively lead the company and that the investment will allow it to achieve its growth objectives faster than it could do on its own.'
"The Warburg Pincus partnership will provide growth capital that will allow Crossmark to make acquisitions, expand our service offerings and further enhance our capabilities to deliver even better service to our clients and customers," Crossmark CEO John Thompson said. "We are pleased to have a partner with a common vision and a track record of backing management with resources, expertise and relationships."