CID Announces Successful Matilda Jane Exit
CID Capital is pleased to announce its recent sale of Matilda Jane Clothing (MJC). MJC is a designer of uniquely-styled children's clothing and products sold through independent representatives at home-based 'trunk shows' and online. Steve Cobb, Managing Director, stated "Our partnership with Matilda Jane Clothing is a great example of the CID Capital investment model of recapitalizing founder-led organizations and then building deeply talented organizations to support ongoing business expansion. In the case of Matilda Jane Clothing, these efforts to build the team, systems, and processes allowed the business to expand rapidly and provide wonderful opportunities for thousands of independent trunk keepers to build their own businesses selling Matilda Jane products to the Company's passionate consumers. We could not be more pleased with the outcome of our partnership with management, and wish them the best as they continue to expand the business in the years ahead." MJC was an ideal and successful CID investment for a variety of reasons: shareholder recapitalization transaction, the business required CID operating expertise to build the team and business infrastructure, and the company exhibited strong cash flow characteristics to support ongoing growth. CID Capital and MJC partnered with First Merchants Bank and Lake City Bank, Capitala, and Centerfield Capital during the investment. The Sage Group provided advisory services to MJC.
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