May 2019 – Progress Equity Partners is pleased to announce the refinance of Crestcom International, a portfolio company since 2013. Headquartered in Denver, Colorado, Crestcom is a leading provider of management training and leadership development services conducted through a network of approximately 200 franchise outlets located in over 60 countries around the world. Crestcom’s training is a blend of live classroom seminars and video-based instruction, supplemented by a growing collection of online curriculum and tools.
Texas Capital Bank (“TCB”) provided a revolving line of credit and a term loan while Farragut Capital Partners (“Farragut”) provided a combination of subordinated debt and preferred equity.
Steve Sangalis of Progress Equity said of the transaction, “Partnering with TCB and Farragut provides us a tremendous opportunity to continue Crestcom’s growth. Farragut, as well as our long-term partner Texas Capital Bank, have been true professionals to work with during the investment process and we are thrilled to be aligned with them moving forward.”
Alan Cuthbertson of Farragut added, “We’re excited to partner with Progress Equity in this transaction. Crestcom has been a leader in the management training industry for decades and has built a sprawling network of franchises across the globe. With Progress Equity’s support and guidance, the Company has improved its core offering and laid the groundwork for meaningful growth over the coming years.”