Classic Accessories, a portfolio company of CID Capital, has acquired Duck Covers.
Duck Covers’ products include outdoor furniture covers, auto covers, and cushion covers. The company was founded in Benicia, CA in 2010 by Olaf Elze and Shawn Sterling who will continue to work with Classic Accessories after the acquisition (www.duckcovers.com).
Classic Accessories, acquired by CID in July 2016, is a designer and distributor of outdoor product covers. The company’s products are used to protect and cover consumers’ outdoor equipment, including cars, RVs, motorcycles, patio furniture, grills, boats, snowmobiles, power equipment, generators, ATVs, UTVs and golf carts. Classic Accessories was founded in 1983 and is led by CEO Brian Bozlinski. The company is headquartered south of Seattle in Kent, WA (www. ClassicAccessories.com).
“Duck Covers’ approach to product development, the customer experience and their focus on the E-Commerce channel has made bringing Duck Covers into Classic Accessories an easy decision,” said Mr. Bozlinski. “Duck Covers will now be able to leverage Classic Accessories’ robust infrastructure to offer incredible products and services to its customers.”
“The Duck Covers partnership is exactly what CID and Classic Accessories sought out to do together,” said Steve Cobb, Managing Director at CID Capital. “We are excited to combine forces with the Duck Covers team and we will continue to look for growth opportunities through other strategic product acquisitions in the future.”
CID Capital makes majority investments in lower-middle-market companies that have revenues of at least $10 million and EBITDA of at least $3 million. Sectors of interest consumer and industrial products. The firm is based in Indianapolis (www.cidcap.com).
© 2018 Private Equity Professional | May 21, 2018
