Covercraft Industries, a portfolio company of Century Park Capital Partners, has acquired Marathon Seat Covers, a manufacturer of custom-fit vehicle seat covers.
Marathon makes seat covers for pickups, sport utility vehicles and passenger cars with a specialization in seat covers for hunters, fisherman, and workmen. The company was founded by Tom Burnett in 1978 and is headquartered in Bozeman, MT (www.marathonseatcovers.com).
Covercraft is the world’s largest manufacturer of custom-patterned vehicle covers, with a library that includes more than 450,000 distinct cover patterns for automobiles, RVs, power sport vehicles and outdoor furniture. Additional product lines include custom front and rear seat protectors, front-end masks, dashboard covers, floor mats, window heat-shields and pet protection products. The company has more than 700 employees and is headquartered 60 miles south of Oklahoma City in Pauls Valley, OK with additional manufacturing facilities in California, Colorado, Texas, Montana, Australia and Mexico (www.covercraft.com).
This latest acquisition builds Covercraft’s pattern library and expands the company’s assortment of custom-fit automotive aftermarket seat covers. Marathon is the third add-on acquisition completed by Century Park since acquiring Covercraft in June 2015. In September 2017 it acquired GT Covers, an Aurora, CO-based manufacturer of custom-fit vehicle seat covers; and in December 2016 the company acquired Valencia, CA-based ADCO Products, a maker of recreational vehicle covers and related protection accessories. ADCO also provides protective covers to the lawn & garden furniture channel.
“We take pride in knowing that we’re in a category of one when it comes to custom vehicle protection products, and the addition of Marathon Seat Covers further solidifies our commitment to providing the largest assortment of premium interior protection products available in the automotive aftermarket,” said Mark Korros, President and CEO of Covercraft.
“The product offering that Marathon brings to our assortment further enhances Covercraft’s position as the authority in the custom seat cover category, a vertical we are incredibly enthusiastic about,” said Guy Zaczepinski, a Managing Partner with Century Park. “We are fortunate to have such a high-quality brand join our growing vehicle protection family.”
Century Park invests from $10 million to $40 million in middle-market companies that have revenues of $20 million to $100 million and EBITDA of $3 million to $15 million. Sectors of interest include chemicals, medical products and services, business services, engineered products, and consumer products. The firm is based near Los Angeles in El Segundo, CA (www.centuryparkcapital.com).
© 2018 Private Equity Professional | August 3, 2018
Bertram Capital has acquired Spectrio, a provider of customer engagement products and services, from The Riverside Company which acquired the company in October 2014 from SJ Partners.
“Bertram is extremely excited to partner with the team at Spectrio,” said Jared Ruger, a Partner at Bertram. “As a market leader with a vast content library and differentiated content delivery model, proven commitment to customer service, and history of completing accretive add-on acquisitions, Spectrio aligns well with Bertram’s unique buy and build investment strategy. We believe there is a robust add-on acquisition landscape, as well as meaningful opportunities to accelerate organic growth.”
Bertram Capital invests in middle-market business services, consumer, healthcare, industrial and technology companies that have revenues from $30 million to $250 million and EBITDA of $5 million to $30 million. To drive growth and create vale in its portfolio companies, Bertram uses an investment strategy called “High 5” which focuses on five core operating principles – sales and marketing improvement, management support, supply chain optimization, technology optimization, and add-on acquisitions. The firm is located in San Mateo, CA (
During Riverside’s term of ownership, Spectrio completed seven add-on acquisitions that expanded the company’s customer base and geographic footprint while adding new service offerings. “Spectrio gained a number of new service capabilities and blue-chip customers through strategic add-ons,” said Riverside Managing Partner Suzy Kriscunas. “Working with a strong management team at Spectrio helped us achieve our investment goal within a short period of time.”
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 480 transactions. The firm’s international portfolio includes more than 80 companies. The firm is headquartered in New York with 16 additional US and international offices (
“When we invested in Spectrio in October 2014, the company focused primarily its on-hold messaging product with a relatively lean sales and marketing team,” said Riverside Partner Peter Tsang. “During our three-year ownership period, Spectrio has transformed into a multi-product customer engagement provider with a national base of over 20,000 customers representing 60,000+ locations and a market leadership position that will enable the company to continue its growth trajectory.” Working with Mr. Tsang on the transaction for Riverside were Principal Brad Roberts, Senior Associate Laura Swearingen, Associate Ming Yau, Operating Partner George Benson and Operating Executive Bill Byers.
FFL Partners has completed its acquisition of Bacharach, a manufacturer of refrigerant gas leak detection and monitoring instruments, from Incline Equity which acquired the company in September 2007.
“Our investment in Bacharach follows our strategy of investing in quality businesses in attractive markets where we have expertise and an ability to add value,” said Greg Long, a Partner at FFL Partners. “We believe there are additional opportunities to grow Bacharach through strategic acquisitions and further build upon its robust gas detection, combustion analysis, energy management and data analytic product portfolio.”
FFL Partners makes control and minority investments of $50 million to $300 million in middle-market companies that are active in consumer products and services, industrial products and services, financial services, healthcare services, and business services. The firm is currently investing out of its $2 billion fourth fund which closed in May 2015. FFL Partners was founded in 1997 and is based in San Francisco (
“Bacharach is a market leading business with strong brand recognition that’s poised for further growth,” said Martin Carter, an Operating Partner at FFL Partners. “Doug and the Bacharach team continue to excel at developing advanced refrigerant gas leak detection, combustion analyzers, and sensing and remote monitoring equipment for the company’s worldwide blue chip customer base.”
Incline Equity invests from $15 million to $30 million in support of recapitalizations, buyouts and corporate divestitures of lower middle market companies that have EBITDAs greater than $5 million and enterprise values between $50 million and $200 million. Sectors of interest include value-added distribution, specialized light manufacturing, and business and industrial services. Incline was formed in 2011 and is based in Pittsburgh (
SFW Capital Partners has hired Andrew Cialino as a new Vice President and Head of Business Development. Mr. Cialino will be responsible for identifying new investment opportunities as well as maintaining and building SFW’s relationships with intermediaries and other potential transaction sources.
Mr. Cialino comes to SFW from Axial – a transaction network for middle market M&A professionals – where he was the Head of Sales and a member of its executive team. During his five years at Axial, he worked with hundreds of middle market private equity firms on their business development strategies and developed a network of intermediaries across the US. Prior to Axial, he was a Controller at Horizontal Systems, a niche software company that served the architecture, engineering and construction industries. Mr. Cialino has a BA in Economics from the College of the Holy Cross.
