Element 78 Capital has Sold its Interest in Construction Services Company Cambium United
CHICAGO, IL Element 78 Capital has sold its minority interest in Cambium United, a diversified construction services company operating in the Commercial Relocatable Buildings and Site Services industries. This transaction completes the successful exit of E78 Capital's first investment as an independent sponsor.
John Signa, Co-founder and Managing Director of E78 Capital, said, "We are extremely pleased with the outcome of our investment in Cambium and the success of the initiatives to enhance the business, which included developing and implementing a strategic growth plan, strengthening the senior management team, acquiring a competitor in an attractive adjacent market, and driving financial innovation. Cambium has nearly doubled in size and significantly improved its financial performance over the course of our involvement. The sale of our interest completes the successful exit of our investment in advance of the expected timeline."
Cambium has achieved substantial growth through the leadership of its management team, led by CEO Nick Mackie. "We are excited to recognize John and his team, who have been exceptional assets to our company," said Nick Mackie. "John is passionate about helping entrepreneurs build their companies into true market leaders. Throughout his tenure as our outsourced CFO and board member, John provided tremendous financial leadership and wise counsel to our company, and deserves this recognition. With our growth strategy now well-defined and the company having the capital it needs to execute on its growth initiatives, Cambium is poised for continued success."