Tracy, Calif. (Feb. 27, 2018)
CrossLink Professional Tax Solutions ("CrossLink" or the "Company", and formerly Petz Enterprises, LLC), a leading provider of professional tax software solutions to tax preparers across the United States, is pleased to announce the purchase of the Company by LNC Partners ("LNC") from its existing ownership, the Petz family. LNC partnered with the Company's CEO, Reynold Sbrilli, who has been instrumental in growing the business into an industry leader over the past six years. Mr. Sbrilli and his executive team will continue managing CrossLink’s day-to-day operations.
"This is a pivotal moment in the Company’s history," stated CEO Reynold Sbrilli. "In order to continue growing CrossLink and its leadership position in the professional tax software marketplace, we saw the need for a new partner that could help us unlock the true growth potential of our business." Mr. Sbrilli added, "LNC is a natural fit for us as they are committed to working with our executive team and investing for the betterment and growth of the business."
LNC is headquartered in Reston, Virginia, and its Managing Partners have invested over $1.5 billion of capital in over 50 different companies across a wide array of industries.
Robert Monk, Managing Partner of LNC Partners added, "We are thrilled to be backing a proven, committed executive team led by CEO Rey Sbrilli and believe that we can add our expertise and resources to help deliver the best value to CrossLink’s customers."
Moving forward, the Company will do business as CrossLink Professional Tax Solutions (CPTS) and will continue to sell and market its suite of professional tax software solutions as CrossLink
Professional Tax Software. "We would like to thank the Petz family for all they have done for CrossLink in the past. We now look forward to faster, broader, and more sustained growth as CrossLink Professional Tax Solutions," Mr. Sbrilli said in closing.
About CrossLink Professional Tax Solutions (CPTS)
CPTS, makers of the CrossLink suite of tax software products, is a leading provider of tax preparation solutions for the professional tax preparation market. Based in Tracy, California and with operations in Orlando, Florida, CPTS is dedicated to enabling professional tax
preparers to grow their tax-based businesses with industry leading tax software solutions.
Additional information regarding CrossLink Professional Tax Solutions can be found on www.CrossLinkTax.com.
About LNC Partners
LNC Partners is a Northern Virginia based private equity firm with over $235 million of capital under management that provides flexible capital solutions to lower middle market companies. The firm seeks companies that generate at least $2 million of EBITDA across a broad range of industries and places an emphasis on executive-owned and family-owned businesses.