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  6. CID Capital and Northstar Capital Acquire Classic Accessories

M&A Deal Summary

CID Capital and Northstar Capital Acquire Classic Accessories

On July 19, 2016, private equity firm CID Capital and mezzanine finance firm Northstar Capital acquired consumer products company Classic Accessories

Acquisition Highlights
  • This is CID Capital’s 6th and Northstar Capital’s 9th transaction in the Consumer Products sector.
  • This is CID Capital’s 18th and Northstar Capital’s 74th transaction in the United States.
  • This is CID Capital’s 3rd and Northstar Capital’s 3rd transaction in Washington.
Investment Fate
  • Classic Accessories was sold to a strategic buyer in 2021.

M&A Deal Summary
Date 2016-07-19
Target Classic Accessories
Sector Consumer Products
Buyer(s) CID Capital
Northstar Capital
Deal Type Recapitalization

Target

Classic Accessories

Kent, Washington, United States
Classic Accessories is a designer and distributor of outdoor product covers. Classic Accessories' products protect and cover consumers' outdoor gear, including cars, RVs, motorcycles, patio furniture, grills, boats, snowmobiles, power equipment, generators, ATVs, UTVs, and golf carts. Classic Accessories was founded in 1983 and is based in Kent, Washington.

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Buyer(S) 2

Buyer

CID Capital

Carmel, Indiana, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CID Capital is a private investment firm that makes both venture capital and private equity investments. CID's private equity practice invests $10 to $15 million of equity capital in lower middle-market companies with $10 to $100 million of revenue and at least $3 million of cash-flow. Funds are generally used to support divestitures, management buyouts, leveraged buyouts, shareholder liquidity, recapitalization, and growth financing. Areas of interest include industrial products and services, general distribution, safety and security products, branded consumer products, medical products and services, building products, and food manufacturing. The Firm prefers investments located within the US. CID Capital was formed in 1981 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 18 of 32
Sector: Consumer Products M&A 6 of 8
Type: Recapitalization M&A Deals 8 of 13
State: Washington M&A 3 of 3
Country: United States M&A 18 of 31
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-10 Team Drive-Away

Olathe, Kansas, United States

Team Drive-Away, Inc. is a non-asset-based commercial vehicle logistics provider specializing in matching professional drivers with moves of used and new heavy-haul Class 8 trucks for sellers and buyers as well as moves to reposition and optimize fleets. Team Drive-Away was founded in 2007 and is based in Olathe, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-18 BigMouth

Glastonbury, Connecticut, United States

BigMouth is a designer and supplier of leisure-and-impulse-oriented consumer products. Sample product categories include inflatables and beach products, gifts, mugs, barware, and wine accessories, various housewares, and garden gifts, among others. BigMouth was founded in 2001 and is based in Glastonbury, Connecticut.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 77 of 121
Sector: Consumer Products M&A 9 of 13
Type: Recapitalization M&A Deals 11 of 17
State: Washington M&A 3 of 4
Country: United States M&A 74 of 116
Year: 2016 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-25 Synteract

Carlsbad, California, United States

Synteract, Inc. is an operator of a full-service international contract research organization (CRO) focused on Phase I‐IV clinical trials for emerging to mid-sized biopharma clients in the U.S., Europe, and Asia. Synteract was founded in 1995 and is based in Carlsbad, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-09 Meca & Technology Machine

Green Bay, Wisconsin, United States

Meca & Technology Machine is a manufacturer and engineering provider of tight tolerance machined components, such as carbon fiber, steel, stainless steel, and aluminum cylinders, gears, composite flexographic plate and bridge sleeves, aluminum and carbon fiber anilox sleeves, and mechanically engraved cylinders for the industrial, packaging, flexographic printing, coating and converting industries. Meca & Technology Machine was founded in 1983 and is based in Green Bay, Wisconsin.

Buy -
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