Investment Summary

Solis Capital Partners and Elan Growth Partners Invest In Icom North America

On February 24, 2015, private equity firm Solis Capital Partners and growth capital firm Elan Growth Partners invested in automotive company Icom North America

Investment Highlights
  • This is Solis Capital Partners’ 1st and Elan Growth Partners’ 1st transaction in the Automotive sector.
  • This is Solis Capital Partners’ 8th and Elan Growth Partners’ 1st transaction in the United States.
  • This is Solis Capital Partners’ 1st and Elan Growth Partners’ 1st transaction in Michigan.

Investment Summary

Date 2015-02-24
Target Icom North America
Sector Automotive
Investor(s) Solis Capital Partners
Elan Growth Partners
Deal Type Growth Capital

Target

Icom North America

New Hudson, Michigan, United States
Icom North America is a manufacturer, assembles, and distributes the patented Icom JTG Liquid Injection Propane vehicle system and additional patented Icom Propane products-featuring the unique Icom Torodial Tank-for the North American market and selected markets worldwide. Icom North America was formed in 2004 and is based in New Hudson, Michigan.

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Investor(S) 2

Investor

Solis Capital Partners

Newport Beach, California, United States

Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 113M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Solis Capital Partners is a private equity firm focused on investing in lower middle-market companies operating in business services, software and related technology, and consumer services. Solis Capital looks to invest $5 to $25 million for majority positions in businesses generating sales of $5 to $100 million. Target companies are typically cash-flow positive and have high barriers to entry. The firm's investment horizon is four to six years. Solis Capital Partners was formed in 2002 and is based in Newport Beach, California with an additional office in San Diego.


DEAL STATS #
Overall 10 of 12
Sector (Automotive) 1 of 1
Type (Growth Capital) 3 of 5
State (Michigan) 1 of 1
Country (United States) 8 of 10
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-24 Lindora

Irvine, California, United States

Lindora is a provider of comprehensive, medically-based weight loss treatments and products. Lindora operates 35 stand-alone clinics across Southern California and seven in-store clinics in selected Rite Aid stores. Lindora was founded in 1971 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 M.L. Kishigo Manufacturing

Santa Ana, California, United States

M.L. Kishigo Manufacturing Co. is engaged in the sale of high visibility clothing and other safety related workwear to distributors throughout the US. M.L. Kishigo Manufacturing Company was founded in 1973 and is based in Santa Ana, California.

Sell -
DESCRIPTION

Elan Growth Partners is a growth-oriented investment firm that targets lower middle-market companies operating in the manufacturing, niche software, business services, and food sectors. The Firm looks to commit $5 to $25 million in profitable Western US-based companies with up to $6 million of EBITDA. Elan Growth Partners was formed in 2018 and is headquartered in Carlsbad, California.


DEAL STATS #
Overall 1 of 3
Sector (Automotive) 1 of 1
Type (Growth Capital) 1 of 3
State (Michigan) 1 of 1
Country (United States) 1 of 3
Year (2015) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 Custom Power

Fountain Valley, California, United States

Custom Power is a manufacturer of highly customized as well as off-the-shelf energy solutions for portable and stationary products used in medical, defense, aerospace, industrial, and green energy markets. Custom Power was founded in 1965 and is based in Fountain Valley, California.

Buy -