# EDGAR Filing Document

**Accession Number:** 0001684682
**File Stem:** 0001387131-23-003981
**Filing Date:** 2023-3
**Character Count:** 12340
**Document Hash:** 3c9a47ebbec0517cf66095cdaf3789fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-003981.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001387131-23-003981

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230324

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CNL Strategic Capital, LLC
- **CENTRAL INDEX KEY:** 0001684682
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **IRS NUMBER:** 320503849
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56162
- **FILM NUMBER:** 23762084

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 4920
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32802
- **BUSINESS PHONE:** 407-650-1000

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 4920
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32802

?xml version="1.0" encoding="utf-8"?

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549**

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**FORM 8-K**

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**CURRENT REPORT** 

**Pursuant to section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

**Date of Report (Date of Earliest Event Reported): March 24, 2023**

**CNL STRATEGIC CAPITAL, LLC** 

**(Exact name of registrant as specified in its charter)** 

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| | | |
|:---|:---|:---|
| **delaware** | **000-56162** | **32-0503849** |
|  **(State or Other Jurisdiction of**<br> **Incorporation or Organization)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification Number)** |

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**CNL Center at City Commons** 

**450 South Orange Avenue** 

**Orlando, Florida 32801** 

**(Address of Principal Executive Offices; Zip Code)** 

**Registrant's telephone number, including area code: (407) 650-1000**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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|:---|:---|:---|
| &nbsp;&nbsp;**<u>Title of each class</u>** | &nbsp;&nbsp;**<u>Trading Symbol(s)</u>** | &nbsp;&nbsp;**<u>Name of each exchange on which registered</u>** |
| &nbsp;&nbsp;None | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A |

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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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On March 24, 2023, we, through our wholly-owned subsidiary, TM Strategic Capital EquityCo, LLC acquired an approximately 95.5% indirect equity ownership interest in TacMed Holdings, LLC ("TacMed Solutions"), which is a company that designs, develops and manufactures medical products that equip, train and protect professionals in pre-hospital, emergency trauma situations. Our total investment of $106.0 million in TacMed Solutions is comprised of an indirect common equity interest investment of approximately $77.0 million and a concurrent debt investment of approximately $29.0 million made through our wholly-owned subsidiary, TM Strategic Capital DebtCo, LLC, to subsidiaries of TacMed Solutions in the form of senior secured debt. Following the closing of the transaction, in addition to our ownership, the remaining TacMed Solutions equity is owned by certain members of the current TacMed Solutions executive management team as well as TacMed Solutions' founder, Ross Johnson.

In connection with the Tacmed acquisition, we issued a press release dated March 27, 2023, a copy of which is attached herewith as Exhibit 99.1 and is incorporated by reference herein.

**Item 9.01. Financial Statements and Exhibits.**

**(d)** **Exhibits** 

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| | |
|:---|:---|
| <u>Exhibit Number</u> | <u>Description</u> |
| **[99.1](ex99-1.htm)** | Press Release dated March 27, 2023 (Filed herewith.) |
| **104** | Cover Page Interactive Data File (embedded within the Inline XBRL document)<br>|

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**Cautionary Note Regarding Forward-Looking Statements**

Statements in this Current Report on Form 8-K, including intentions, beliefs, expectations or projections relating to the items described herein, are forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the beliefs and assumptions of the Company's management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words "believes," "expects," "intends," "plans," "will," "estimates" or similar expressions that indicate future events. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. Any forward-looking statement made by us in this Current Report is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company's ability to pay distributions and the sources of such distribution payments, the Company's ability to locate and make suitable investments, the economy and the broader financial markets, which may have a significant negative impact on the Company's (and its businesses) financial condition, results of operations**,** cash flows and net asset value per share and other risks described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the other documents filed by the Company with the Securities and Exchange Commission.

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: March 27, 2023 | CNL Strategic Capital, LLC<br> a Delaware limited liability company | CNL Strategic Capital, LLC<br> a Delaware limited liability company |
|  | By: | /s/ Chirag J. Bhavsar |
|  |  | Chirag J. Bhavsar<br> Chief Executive Officer |

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## Exhibit 99.1

**[CNL Strategic Capital, LLC 8-K](scap_8k-032423.htm)**

**Exhibit 99.1**

![](logo_001.jpg)

News Release

For information contact: Colleen Johnson Senior Vice President Marketing and Communications CNL Financial Group 407-650-1223 <br>

 **CNL Strategic capital ACQUIRES majority stake in TacMED SOluTIONS**

(Orlando, Fla.) March 27, 2023 — CNL Strategic Capital, LLC acquired a majority equity stake and made a concurrent debt investment in TacMed Solutions (TacMed). At the closing of the transaction, all of the remaining TacMed equity is owned by members of TacMed's executive team and its founder. This is the 12th company in CNL Strategic Capital's portfolio.

Founded in 2003 and headquartered in Anderson, South Carolina, TacMed designs, develops and manufactures medical products that equip, train and protect professionals in pre-hospital, emergency trauma situations. TacMed's suite of traumatic injury products, hemorrhage control tourniquets, immobilization tools and critical care kits serve first responders, military, law enforcement and civilian public safety operations. TacMed's medical simulation training solutions combine advanced technology and durable materials to offer customers the highest fidelity training simulators and provide realistic replicas for emergency medical personnel training exercises.

**About CNL Strategic Capital** 

CNL Strategic Capital is a publicly registered, non-traded limited liability company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC (LLSC). For additional information, please visit <u>cnlstrategiccapital.com</u>.

**About CNL Financial Group**

CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets. CNL is headquartered in Orlando, Florida. For additional information, please visit <u>cnl.com</u>.

*Page 2/ CNL Strategic Capital acquires majority stake in TacMed Solutions*

**About Levine Leichtman Strategic Capital**

LLSC is an affiliate of Levine Leichtman Capital Partners, LLC (LLCP), a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP's global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $13.3 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.9 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt. For additional information, please visit <u>llcp.com</u>.

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***This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.*** *The information in this press release may include "forward-looking statements." These statements are based on the beliefs and assumptions of CNL Strategic Capital's management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words "believes," "expects," "intends," "plans," "estimates" or similar expressions that indicate future events. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond CNL Strategic Capital's control. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company's ability to pay distributions and the sources of such distribution payments, the Company's ability to locate and make suitable investments and other risks described in the "Risk Factors" section of the Company's Annual Report on Form 10-K and the other documents filed by the Company with the Securities and Exchange Commission.* 

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