Long Point Capital ("Long Point") is pleased to announce it has sold its investment in Cumming Group, Inc. ("Cumming" or the "Company") through a recapitalization transaction with Tailwind Capital. Cumming is a global project and cost management consulting firm with offices in the United States, Middle East and Europe. The company delivers customized solutions to a diverse set of customers across the education, healthcare, corporate, themed entertainment, public and retail sectors worldwide.
Long Point made its initial investment in Cumming in 2006. Since that time, revenue has grown from $25 million to over $100 million and the number of offices has nearly tripled. In partnership with Long Point, Cumming completed three strategic add-on acquisitions, greenfielded operations in the Middle East and expanded into three new market sectors.
"Long Point was an outstanding partner for me and our company. They proved their mettle and skill during the Great Recession, not only supporting us during the steep downturn, but providing growth capital that helped accelerate sales and profits in the subsequent years. Long Point provided common sense strategic and tactical counsel that was a critical part of our growth," said Finlay Cumming, CEO of Cumming. "As a result, we were able to generate an outstanding outcome for all of our shareholders. Most importantly, I trusted the Long Point team and over our time together, they repeatedly followed through on the commitments they made. I couldn't have picked a better investment partner."
Gerry Boylan, Managing Director at Long Point, added, "We have enjoyed working closely with Finlay and his team over the course of the last ten years. We're proud of being part of the impressive growth record of Cumming, including successfully navigating through a historically deep recession. Through a series of strategic acquisitions coupled with organic growth initiatives, Cumming has grown revenue and earnings significantly during our investment period. Cumming is the premier cost and project management firm, led by an outstanding management team and we believe that Cumming is very well positioned for continued growth and success."
If you have questions about this transaction, please contact Gerry Boylan gboylan@lpcfund.com, Naimish Patel npatel@lpcfund.com or Norm Scherr nscherr@lpcfund.com.
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