M&A Deal Summary

CID Capital and Northstar Capital Acquire LumiSource

On January 13, 2022, private equity firm CID Capital and mezzanine finance firm Northstar Capital acquired furniture company LumiSource

Acquisition Highlights
  • This is CID Capital’s 1st and Northstar Capital’s 2nd transaction in the Furniture sector.
  • This is CID Capital’s 25th and Northstar Capital’s 101st transaction in the United States.
  • This is CID Capital’s 3rd and Northstar Capital’s 10th transaction in Illinois.

M&A Deal Summary

Date 2022-01-13
Target LumiSource
Sector Furniture
Buyer(s) CID Capital
Northstar Capital
Deal Type Recapitalization
Advisor(s) Mesirow Financial Holdings, Inc. (Financial)

Target

LumiSource

Elk Grove Village, Illinois, United States
LumiSource is a provider of home décor and furnishings sold predominantly through online retailers. LumiSource was founded in 1997 and is based in Elk Grove Village, Illinois.

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Buyer(S) 2

Buyer

CID Capital

Indianapolis, 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 26 of 32
Sector (Furniture) 1 of 1
Type (Recapitalization) 12 of 13
State (Illinois) 3 of 3
Country (United States) 25 of 31
Year (2022) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 Park Supply

Huntsville, Alabama, United States

Park Supply is a wholesale distributor of heating, ventilation, cooling, hydronics equipment and supplies. In addition to the headquarters in Chicago, distribution includes seven other Chicago area locations and one in Hammond, Indiana. Park Supply was founded in 1963 and is based in Huntsville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-27 Grandview Gallery

Memphis, Tennessee, United States

Grandview Gallery is a designer and supplier of affordable home décor products, including lamps, fixtures, and pendants sold through retail and online. Grandview Gallery was founded in 2006 and is based in Memphis, Tennessee.

Sell -
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 106 of 109
Sector (Furniture) 2 of 2
Type (Recapitalization) 17 of 17
State (Illinois) 10 of 11
Country (United States) 101 of 104
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Alpaca Audiology

Springfield, Missouri, United States

Alpaca Audiology is an audiology negotiating network designed to protect the profession and future of Audiology. The company was formed with the belief that clinics and their respective patients would benefit from collective purchasing power. By uniting, members of Alpaca have created the ability to obtain bottom line pricing while maintaining personal and professional integrity. Alpaca Audiology was founded in 2011 and is based in Springfield, Missouri.

Sell $310M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-25 Infinity Behavioral Health Services

Lauderdale Lakes, Florida, United States

Infinity Behavioral Health Services is a provider of revenue cycle management services for the behavioral health industry. Infinity Behavioral Health Services is based in Lauderdale Lakes, Florida.

Sell -