Insights

04 January 2021

CID Capital Names New Managing Partner

January 4, 2021, We are pleased to announce that Steve Cobb, a long-time investment team member and Partner of CID Capital, has been named the firm’s Managing Partner effective January 1, 2021.  Steve has over 20 years of private equity investment experience at CID and most recently served as a member of the firm’s investment committee. Steve is succeeding Scot Swenberg, who served as CID’s Managing Partner for eight years. Scot will resume his responsibilities on the CID investment team going forward. In his new role, Steve will oversee CID’s strategic direction, providing leadership on firm and fund matters. In addition, he will continue his role on the firm’s investment committee alongside Scot Swenberg and Eric Bruun. Steve will be particularly involved in CID’s investor relations and organizational development activities.

“I am proud of the great legacy and reputation of CID Capital and am honored my partners selected me to serve as the firm’s Managing Partner. 2021 marks our 40th year as a firm, and we are grateful for the trust our investors, the business owners we partner with, and our company executives have put in us for four decades. I look forward to continuing and building upon CID’s commitment to excellence for our investors.” ­- Steve Cobb

Steve has over 30 years of finance and investment experience, including 20 years investing and managing CID portfolio companies. Prior to joining CID, Steve held financial leadership roles within the Fabric Care business at Procter and Gamble. In addition to his responsibilities at CID, Steve is active mentoring and volunteering within the central Indiana community. Steve holds an MBA from Harvard Business School and a BA in Economics from DePauw University.

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14 October 2020

Extra Mile Brands Acquires Mustangs Unlimited

OCTOBER 2020, Reedsville, Pennsylvania – CID Capital’s portfolio company, Extra Mile Brands, announced  that it has acquired the assets of Mustangs Unlimited of Manchester, Connecticut. Mustangs Unlimited is a distributor of a wide variety of 1965-present day Mustang parts. The company was founded in 1976 by Chris Hoverman, who led the company until the acquisition by Extra Mile Brands. Mustangs Unlimited has relocated all operations to Reedsville, Pennsylvania. 
Orion Super, Extra Mile Brands’ CEO noted “One of our top priorities is to continue with the same high quality parts and great personal service that Mustangs Unlimited is known for. We are very excited about Mustangs Unlimited joining the Extra Mile Brands family. We are fortunate to acquire such a wonderful business and will ensure Mustangs Unlimited carries forward Chris’s legacy of over 40 years of exemplary service to his customers.”

Extra Mile Brands is highly motivated to acquire other Corvette or Mustang aftermarket manufacturers or distributors. Other auto aftermarket products will also be considered. The best candidates will have a minimum of $1.0 million of EBITDA and a history of profitable financial performance. Please contact Adam Bolerjack or Cory Heck for more details or to make an introduction. 

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10 September 2020

CID Sources a Pro for Prosource

In partnership with ProSource’s founder, CID Capital has executed our planned CEO succession. We are excited to announce the addition of Drew Roberts, who brings a wealth of experience and success from large strategics, as well as, investor-backed businesses within ProSource’s current and adjacent markets. Throughout his career, Drew has overseen significant organic and acquisition growth and is ready to execute this plan at ProSource. We believe he is a great addition to an already very successful company.

 ProSource is highly motivated to acquire other plumbing product distributors located in the Southeast. Other complementary products will also be considered. The best candidates will have a minimum of $0.5 million of EBITDA and a history of profitable financial performance. Please contact Adam Bolerjack or Cory Heck for more details or to make an introduction. 

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