Stout Advises Chicago Capital Partners on Recapitalization of Nickerson

Stout has advised Chicago Capital Partners on an equity recapitalization of Nickerson NY, LLC (“Nickerson” or the “Company”), whereby Chicago Capital Partners exited its investment, and the Company received a new growth investment from an affiliate of Cross Rapids Capital LP (“Cross Rapids Capital”). Stout served as financial advisor to Chicago Capital Partners and Nickerson in connection with the transaction, which closed March 2026.

Founded in 1952, Nickerson has grown from humble beginnings into a leading provider of high-quality equipment and furniture for educational and institutional customers in the Northeast U.S. The Company’s extensive product offering spans athletic equipment, bleachers, casework and millwork, maker spaces, classroom, office and cafeteria furniture, auditorium seating, grandstands, lockers, library and media center solutions, scoreboards and digital signage, early childhood furniture, e-sports solutions, and so much more. Nickerson also has a dedicated service and repair team, fully certified by its manufacturers, to support customers with seamless, professional installation and ongoing maintenance of all equipment and furniture. Nickerson is an approved vendor on numerous New York and New Jersey contracts as well as national cooperative contracts.

Ms. Stephanie Keller, CEO of Nickerson, said, “Our team is excited to partner with Cross Rapids Capital, who will help us accelerate our growth. We have built this company on a commitment to delivering tailored solutions and exceptional customer service, empowering our clients to learn, collaborate, and grow, and this partnership will allow us to bring even more resources and capabilities to that mission. We thank Chicago Capital Partners for their trust and partnership, and we are enthusiastic about the future of the Company.”

Cross Rapids Capital added, “We believe Nickerson is a strong platform for growth, with a 70-plus-year track record of excellence and long-standing relationships with customers as well as leading manufacturers. We are thrilled to partner with the existing management team and build on the Company’s strong foundation by expanding the product and service offering, deepening relationships with school districts and institutional customers, and expanding the Company’s footprint. Reliable and responsive service to our customers will always be our number one priority.”

Mr. Michael Solot from Chicago Capital Partners commented, “It has been our privilege to support the Nickerson team through a period of significant growth. Nickerson is well-positioned to continue to deliver on its mission, and we are grateful to the Company’s management team for their dedication and partnership throughout our investment.”

Stout Vice Chairman and Managing Director Mr. Steven Rathbone concluded, “Working with Stephanie and the Nickerson senior leadership provides an appreciation for a team deeply committed to core values and the success of the people and the organization. As Nickerson approaches its 75th anniversary, we see limitless potential in the continued growth of the company and its team members. Congratulations to Nickerson, Chicago Capital Partners, and Cross Rapids Capital.”

Stout served as financial advisor to Chicago Capital Partners and Nickerson in connection with the transaction. Greenberg Traurig LLP served as legal counsel to Cross Rapids Capital.