M&A Deal Summary

CID Capital, First Horizon Bank - Mid-Atlantic Franchise and Reinsurance Group of America Acquire Park Supply

On January 6, 2022, private equity firm CID Capital, First Horizon Bank - Mid-Atlantic Franchise and Reinsurance Group of America acquired distribution company Park Supply

Acquisition Highlights
  • This is CID Capital’s 3rd, First Horizon Bank - Mid-Atlantic Franchise’s 1st and Reinsurance Group of America’s 1st transaction in the Distribution sector.
  • This is CID Capital’s 24th, First Horizon Bank - Mid-Atlantic Franchise’s 1st and Reinsurance Group of America’s 4th transaction in the United States.
  • This is CID Capital’s 1st, First Horizon Bank - Mid-Atlantic Franchise’s 1st and Reinsurance Group of America’s 1st transaction in Alabama.

M&A Deal Summary

Date 2022-01-06
Target Park Supply
Sector Distribution
Buyer(s) CID Capital
First Horizon Bank - Mid-Atlantic Franchise
Reinsurance Group of America
Deal Type Recapitalization
Advisor(s) Founders Advisors (Financial)

Target

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.

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Buyer(S) 3

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 25 of 32
Sector (Distribution) 3 of 6
Type (Recapitalization) 11 of 13
State (Alabama) 1 of 1
Country (United States) 24 of 31
Year (2022) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Seaga

Freeport, Illinois, United States

Seaga is a manufacturer of Food & Beverage, Industrial, and Water vending solutions. Seaga pairs its high-quality, customized solutions with a rapid prototyping and turnaround process to meet each customer's delivery demands. Seaga was founded in 1987 and is based in Freeport, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 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.

Buy -
DESCRIPTION

First Horizon Bank's Mid-Atlantic Franchise provides a wide range of financial services.


DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Recapitalization) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Buyer

Reinsurance Group of America

Chesterfield, Missouri, United States

Category Company
Founded 1973
Sector Insurance
Employees3,900
Revenue 18.3B USD (2023)
DESCRIPTION

Reinsurance Group of America is a life reinsurance company provides clients with individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting and product development. Reinsurance Group of America was founded in 1973 and is based in Chesterfield, Missouri.


DEAL STATS #
Overall 5 of 5
Sector (Distribution) 1 of 1
Type (Recapitalization) 1 of 1
State (Alabama) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-04 Hodge Life Assurance

Cardiff, United Kingdom

Hodge Life Assurance Co. Ltd. is a life insurance company. Hodge Life Assurance was founded in 1965 and is based in Cardiff, United Kingdom.

Buy -