Stellex Capital Management has acquired Cisco Equipment in partnership with the founding Sibert family and company management.
Cisco Equipment sells and rents heavy equipment such as excavators, loaders, skid steers, backhoes, dozers, tractors and forklifts that are used in the midstream infrastructure, construction, agriculture and industrial markets.
The company also provides related parts and supplies, and repair and maintenance services. Cisco was founded by Scott Sibert in 1978 and is headquartered in Odessa, TX (www.cisco-equipment.com).
Cisco’s management team, led by CEO Christopher Sibert, invested alongside Stellex in this transaction and will continue to lead the business. “Cisco is optimally positioned for continued growth and we look forward to working closely with the company’s accomplished management team to support their expansion in serving its loyal customer base,” said Ray Whiteman, a managing partner of Stellex.
Stellex invests from $25 million to $100 million in United States or Europe-based companies with enterprise values from $50 million to $500 million. Sectors of interest include automotive, aerospace, building products, defense, industrial equipment, metal fabrication and transportation. Stellex has offices in New York and London (www.stellexcapital.com).
Deloitte Corporate Finance was the financial advisor to Cisco and Syntal Capital Partners advised the Sibert family.
Debt financing for this transaction was arranged and provided by CIT Bank.
© 2019 Private Equity Professional | February 13, 2019
