M&A Deal Summary

Cardinal Equity Partners Acquires Eagle Battery

On February 1, 2017, private equity firm Cardinal Equity Partners acquired electrical equipment company Eagle Battery

Acquisition Highlights
  • This is Cardinal Equity Partners’ 1st transaction in the Electrical Equipment sector.
  • This is Cardinal Equity Partners’ 20th transaction in the United States.
  • This is Cardinal Equity Partners’ 8th transaction in Indiana.

M&A Deal Summary
Date 2017-02-01
Target Eagle Battery
Sector Electrical Equipment
Buyer(s) Cardinal Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Eagle Battery

Muncie, Indiana, United States
Eagle Battery provides a service to both businesses and consumers whereby we collect and purchase used, or ‘spent’, lead-acid batteries to be reprocessed for reconditioning and recycled in EPA compliant smelters. Eagle Battery was founded in 2002 and is headquartered in Muncie, Indiana.

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Buyer(S) 1

Buyer

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 20 of 24
Sector (Electrical Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 12 of 13
State (Indiana) 8 of 10
Country (United States) 20 of 24
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-18 Corporate Imaging Concepts

Northbrook, Illinois, United States

Corporate Imaging Concepts, Inc. provides branded promotional products and online company store portals for some of the country’s largest corporations. CIC’s game-changing LEIF technology solution leads the industry in customer satisfaction through supply chain efficiencies. The Company’s commitment to technology advancements, combined with a workforce dedicated to exceeding customer expectations, has resulted in steady double-digit growth along with industry recognition as a sales leader and one of the best places to work.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 EastPoint Sports

Succasunna, New Jersey, United States

EastPoint Sports designs, sources, and distributes indoor and outdoor home recreational products through mass retail and e-commerce channels. The EastPoint Sports family of brands includes Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, PENN, Kan Jam, and Pro-Line Tailgating. EastPoint Sports was founded in 2009 and is based in Succasunna, New Jersey.

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