M&A Deal Summary

Cornerstone Propane Acquires Propane Continental

On December 15, 1998, Cornerstone Propane acquired retailer Propane Continental from CID Capital

Acquisition Highlights
  • This is Cornerstone Propane’s 1st transaction in the Retail sector.
  • This is Cornerstone Propane’s 1st transaction in the United States.
  • This is Cornerstone Propane’s 1st transaction in Kansas.

M&A Deal Summary

Date 1998-12-15
Target Propane Continental
Sector Retail
Buyer(s) Cornerstone Propane
Sellers(s) CID Capital
Deal Type Add-on Acquisition

Target

Propane Continental

Overland Park, Kansas, United States
Propane Continental operated a wholesale and retail propane distribution company engaged in acquiring and operating retail propane outlets. The Company grew from one retail outlet to over 35 units across the nation.

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Buyer(S) 1

Buyer

Cornerstone Propane

Watsonville, California, United States

Category Company
Founded 1996
Sector Distribution
DESCRIPTION

Cornerstone Propane, LP, doing business as Coast Gas, distributes propane for residential, commercial, industrial, agricultural, and retail usage, repair and maintenance of propane heating systems.


DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Kansas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1998 M&A 1 of 1

Seller(S) 1

SELLER

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 2 of 25
Sector: Retail M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 11
State: Kansas M&A 1 of 3
Country: United States M&A 2 of 25
Year: 1998 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-01-01 The Indiana Railroad Co.

Indianapolis, Indiana, United States

The Indiana Railroad Co., operates a variety of consumer, energy and industrial products, and serves central and southwest Indiana and central Illinois with nationwide connections at transportation hubs such as Chicago, Indianapolis and Louisville, Ky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-29 SPS Commerce

Minneapolis, Minnesota, United States

SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to thousands of customers worldwide. SPS delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. SPS Commerce was founded in 1987 and is based in Minneapolis, Minnesota.

Buy -