Recapitalization • Manufacturing

CID Capital and Northstar Capital Acquire Rite in the Rain

On July 18, 2013, private equity firm CID Capital and mezzanine finance firm Northstar Capital acquired manufacturer Rite in the Rain

Acquisition Context
  • This is CID Capital’s 4th and Northstar Capital’s 8th transaction in the Manufacturing sector.
  • This is CID Capital’s 14th and Northstar Capital’s 54th transaction in the United States.
  • This is CID Capital’s 2nd and Northstar Capital’s 1st transaction in Washington.
Investment Fate
  • Rite in the Rain was sold to a financial buyer in 2025.

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M&A Deal Summary

Date July 18, 2013
Target Rite in the Rain
Sector Manufacturing
Buyer(s) CID Capital
Northstar Capital
Deal Type Recapitalization

Target Company

Rite in the Rain

Tacoma, Washington, United States
Rite in the Rain designs, manufactures, and distributes field data management and writing tools built to operate in harsh and demanding environments. With a legacy spanning over a century, Rite in the Rain is renowned for its durable and reliable products, which are used by professionals and outdoor enthusiasts in harsh environments and are sold via online and in-store retailers. Rite in the Rain was formed in 1916 and is based in Tacoma, Washington.
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Buyers Overview 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 Context for Buyer #
Overall 14 of 32
Sector: Manufacturing 4 of 7
Type: Recapitalization 5 of 13
State: Washington 2 of 3
Country: United States 14 of 31
Year: 2013 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-23 GT Exhaust

Lincoln, Nebraska, United States

GT Exhaust, Inc. is a manufacturer of stationary diesel engine silencers necessary for compliance with local noise and emission control ordinances. Common applications for stationary diesel engines include auxiliary power generation, fluid pumping, and natural gas compression.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-29 Exacq Technologies

Fishers, Indiana, United States

Exacq Technologies, Inc., a developer of open architecture, Video Management System (VMS) solutions for security and surveillance applications. Our exacq Vision VMS client-server solutions are scalable from a small single camera solution to large scale corporate or campus systems with thousands of cameras.

Sell $150M
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 Context for Buyer #
Overall 56 of 121
Sector: Manufacturing 8 of 15
Type: Recapitalization 7 of 17
State: Washington 1 of 4
Country: United States 54 of 116
Year: 2013 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-01 Preferred Warranties

Orwigsburg, Pennsylvania, United States

Preferred Warranties markets vehicle service contracts through independent dealers of used vehicles in 2,200 locations in fifteen Mid-Atlantic, Midwestern and Southern states.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-01 Preferred Automobile Credit Co.

Orwisburg, Pennsylvania, United States

Preferred Automobile Credit Co. is a specialty finance company that acquires and services auto finance contracts primarily in the below-prime credit tier.

Sell -