Century Park Capital Partners has completed the sale of its portfolio company Eckler’s, multichannel retailer of aftermarket parts for predominantly classic cars, to Baird Capital Partners. Eckler’s was acquired in June of 2006 by Century Park Capital Partners.
“We are very proud of what the Eckler’s team has been able to accomplish, which was to build one of the leading multichannel marketers of parts and accessories for automobile enthusiasts,” said Chip Roellig, Managing Partner with Century Park. “By partnering with management to aggressively grow the company, we were able to deliver a favorable outcome for Century Park and our limited partners.”
Eckler’s is a multichannel retailer of aftermarket parts for predominantly classic cars. The company’s offerings include Corvette (www.ecklers.com), 1949-1954 Early Chevy (www.ecklersearlychevy.com), 1955-1957 Classic Chevy (www.classicchevy.com), 1958-1972 Chevy (www.lategreatchevy.com), Classic Chevy Truck (www.ecklerstrucks.com), Camaro (www.rickscamaros.com), Firebird (www.ecklersfirebird.com), Chevelle (www.ecklerschevelle.com), El Camino (www.elcaminostore.com), 1957-1979 Ford (www.dearbornclassics.com), Porsche (www.automotion.com) and Mercedes (www.ecklersmbzparts.com).
Since Century Park Capital’s original acquisition in 2006, Eckler’s consummated five acquisitions, expanding the company’s range of products to reach a much broader enthusiast vehicle base. Initially specializing in primarily Corvette-based products, the company now serves a variety of makes including Ford, Chevrolet, Porsche and Mercedes.
“We have had a great relationship with Century Park, and my team and I have valued their guidance and support in building our platform. The Century Park team felt like a true partner and it was a pleasure to work with them,” said Matt Jordan, President and CEO of Eckler’s. “We are pleased that this exit will deliver solid returns for their investors and we are excited for the next chapter of our growth.”
“The growth of Eckler’s both organically and through its successful integration of five acquisitions underscores the impact of our approach to building leading companies in the middle market. Matt Jordan and the entire management team at Eckler’s did an absolutely incredible job running this business, especially given the challenging macroeconomic environment,” said Guy Zaczepinski, Principal with Century Park.
Century Park Capital Partners invests from $10 million to $50 million in profitable, growing middle-market companies with operating cash flows of at least $4 million and revenues ranging from $25 million to $150 million. Sectors of interest include manufacturing, branded distribution and service businesses. The firm is based in Los Angeles, CA (www.centuryparkcapital.com).
Baird Capital Partners invests in lower middle-market companies in the manufactured products, healthcare and business services sectors. The firm invests from $15 million to $35 million in companies with enterprise values of $25 to $125 million and EBITDAs greater than $5 million. Baird Capital Partners was founded in 1989 and is based in Chicago, IL (www.bairdcapitalpartners.com).
Sidley Austin served as legal counsel to Century Park and Lazard served as the exclusive financial advisor to Eckler’s.