Key Takeaways
- • L Squared Capital Partners closed a single-asset continuation fund for FineLine Technologies, acquiring L Squared Fund I's stake in the company while maintaining parallel ownership through L Squared Fund III alongside Leonard Green & Partners.
- • The continuation vehicle was co-led by Kline Hill Partners, StepStone Group, Churchill Asset Management, and J.P. Morgan Asset Management, providing additional capital for FineLine's organic growth and strategic acquisition strategy.
- • FineLine Technologies, founded in 1998 and headquartered in Norcross, Georgia, is a leading provider of data-driven labeling, RFID tagging, and barcoding solutions serving retail and other verticals globally.
- • Baird served as exclusive financial advisor to L Squared, with its GP Solutions and Technology & Services teams managing an efficient competitive process to achieve the sponsor's objectives.
- • The continuation structure allows L Squared to extend its partnership with FineLine while providing liquidity to Fund I investors, demonstrating a continuation fund strategy within the sponsor's existing portfolio management framework.
Summary
L Squared Capital Partners has completed a single-asset continuation fund transaction for FineLine Technologies, reaffirming the sponsor's commitment to the data-solutions company and extending its investment partnership. The new continuation fund acquired L Squared Fund I's ownership stake in FineLine while preserving L Squared's existing investment through L Squared Fund III, which operates alongside capital from co-investor Leonard Green & Partners. This dual-fund structure reflects a deliberate capital management strategy designed to balance investor liquidity requirements with sustained operational oversight.
The continuation vehicle was structured as a syndicated financing effort, led by Kline Hill Partners, StepStone Group, Churchill Asset Management, and J.P. Morgan Asset Management. The collaborative fundraising approach brought together multiple institutional capital providers to support FineLine's near-term and medium-term expansion objectives. The transaction included additional committed capital specifically allocated to fund both organic growth initiatives and strategic acquisitions, positioning FineLine for competitive expansion within its operating verticals.
FineLine Technologies, established in 1998, operates as a global provider of labeling, RFID tagging, and barcoding solutions serving retail, supply chain, and industrial customers. The company maintains state-of-the-art printing facilities and serves a diversified client base of brands, retailers, and suppliers seeking operational efficiency improvements through automated inventory and asset tracking technologies. Headquartered in Norcross, Georgia, FineLine's technology footprint spans international markets.
Baird acted as exclusive financial advisor to L Squared on the transaction, deploying integrated teams from its GP Solutions and Technology & Services divisions. The advisory engagement encompassed deal structuring, investor syndication, and process management, resulting in what both parties characterized as an efficient and competitive outcome aligned with the sponsor's strategic objectives.
The continuation vehicle was structured as a syndicated financing effort, led by Kline Hill Partners, StepStone Group, Churchill Asset Management, and J.P. Morgan Asset Management. The collaborative fundraising approach brought together multiple institutional capital providers to support FineLine's near-term and medium-term expansion objectives. The transaction included additional committed capital specifically allocated to fund both organic growth initiatives and strategic acquisitions, positioning FineLine for competitive expansion within its operating verticals.
FineLine Technologies, established in 1998, operates as a global provider of labeling, RFID tagging, and barcoding solutions serving retail, supply chain, and industrial customers. The company maintains state-of-the-art printing facilities and serves a diversified client base of brands, retailers, and suppliers seeking operational efficiency improvements through automated inventory and asset tracking technologies. Headquartered in Norcross, Georgia, FineLine's technology footprint spans international markets.
Baird acted as exclusive financial advisor to L Squared on the transaction, deploying integrated teams from its GP Solutions and Technology & Services divisions. The advisory engagement encompassed deal structuring, investor syndication, and process management, resulting in what both parties characterized as an efficient and competitive outcome aligned with the sponsor's strategic objectives.
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