Source Capital’s Direct Lending Platform Invests in Spinnaker SCA

Source Capital, through Source Capital Credit Opportunities IV, LP (“SCCO IV”), is pleased to announce its investment in Spinnaker SCA (the “Company”), a leading supply chain technology services firm providing end-to-end supply chain strategy, planning, and implementation that enable omni-channel commerce. SCCO IV supported the acquisition of the Company by private equity sponsor Black Lake Capital, providing debt financing and an equity co-investment to finance the transaction.

Headquartered in Boulder, CO, Spinnaker SCA came from the merger of SCApath LLC and Spinnaker SCS LLC, two supply chain consulting organizations, which form long-term strategic relationships with its customers providing both business and technology expertise and services. Spinnaker SCS, LLC focused on supply chain strategy and planning, while SCApath LLC focused on supply chain execution and omni-channel fulfillment. Combined, the merged company will help customers address a broader set of supply chain challenges and opportunities.

“The Black Lake Capital team brings extensive IT and IT services experience to the Company, and we look forward to supporting Spinnaker SCA and Black Lake Capital during the Company’s next phase of growth,” said Joe Rodgers, Managing Director at Source Capital.

About Black Lake Capital
Black Lake Capital is a private investment firm partnering with technology and innovation-enabled businesses generating $2-12M in annual cash flow. From 100% buyouts to equity recapitalizations with majority or substantial minority positions, Black Lake has the flexibility to meet the needs of growing businesses and has completed eight transactions since its founding in 2013. Please visit the firm’s website,, for more information.

About Source Capital, LLC
Source Capital is a private investment firm focused on providing flexible equity and debt capital to lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 23 equity platform investments, 43 add-on acquisitions and 32 debt investments through three separate credit funds.  To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team.

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