CrowdOut Capital Acquires Sourceability, a Leading Global Distributor of Electronic Components
CrowdOut Partners with Sourceability Leadership in Corporate Carveout
AUSTIN, Texas, Jan. 10, 2023 /PRNewswire/ -- CrowdOut Capital LLC (“CrowdOut”), an Austin-based investment firm, announced today that CO Long Term Equity Fund I LP (“COLT”), and affiliates partnered with senior leadership to acquire Sourceability (the “Company”), a global distributor of electronic components offering digital tools, services and data, from Zollner Elektronik AG (“Zollner”).
Sourceability was named as the “Outstanding Supply Chain Service Provider” in the 2022 ASPENCORE Global Electronic Component Distributor Awards for its outstanding performance and positive contributions to the electronics industry. The award capped off a year in which the Company was named to Inc. 5000 fastest growing list and received the “Top Supply Chain Services Company” award from Logistics Tech Outlook. Sourceability has developed its own proprietary e-commerce marketplace, Sourcengine™, that provides professional buyers and engineers with access to an extensive range of parts with global logistics support.
“Sourceability has experienced tremendous growth from our inception through our commitment to innovation and digital transformation. We are excited for this partnership with CrowdOut to accelerate our trajectory,” said Jens Gamperl, Founder & CEO of Sourceability. “I would like to thank the Zollner family for their ownership and support over the last 7 years. They have been a great partner.”
“I could not think of a better inaugural investment for our newly launched long-term private equity fund,” stated Alexander Schoenbaum, Co-Founder & CEO of CrowdOut. “Sourceability has transformed electronic component distribution and has experienced extraordinary growth. We are thrilled to partner with and support Jens and the management team on the purchase of the Company. The entire Sourceability team continues to push the envelope in the development of software products designed to improve the user experience for their clients.”
CrowdOut’s long-term private equity fund supported the management team’s acquisition of Sourceability in a management-led buyout. The transaction will provide additional growth capital for the Company and strengthen its balance sheet. Anchored by family office limited partners, COLT is a long-dated fund that provides businesses and management teams with patient capital to make the right business decisions without traditional private equity constraints.
“The Zollner family would like to thank Jens and his entire team at Sourceability on building a strong business during a very difficult time in the world economy,” said Manfred Zollner.
CrowdOut was represented by Norton Rose Fulbright LP, BDO USA, LLC and their global affiliates. Whitman Breed Abbott & Morgan and KPMG served as legal and tax advisors to Zollner.
Sourceability® is a global distributor of electronic components offering digital tools, services and data with the power of technology to meet customers’ evolving demands. Sourceability combines the expertise of global distribution with the only true e-commerce marketplace in the industry and works with the largest catalog of suppliers to provide the transparency, robust data and speed that customers need to create a seamless procurement process. The Company’s global distribution centers in Singapore, Hong Kong and Miami are supported by regional offices to maintain a holistic understanding of customer supply chain needs. Sourceability continues build upon its initial success since the Company was founded in 2015 by harnessing innovation, customer empowerment and integrity.
About CrowdOut Capital
CrowdOut Capital is a leading private investor in lower to middle-market companies. CrowdOut’s network of experienced owner-operators and industry veterans provides exclusive deal opportunities and key insights during underwriting and due diligence. In addition to getting access to needed capital, companies benefit from the industry expertise of CrowdOut’s connected network of investors. Family offices, institutional and accredited investors can invest through dedicated credit and equity funds or deal-by-deal through a tech enabled marketplace. CrowdOut has originated more than $750 million in debt and equity investments since its inception.
Senior Managing Director
CrowdOut Capital, LLC
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