Indianapolis-based private equity firm CID Capital (“CID”) announced that it has partnered with Park Supply. Founded in 1963 with locations in Huntsville and Athens, Alabama, Park Supply is a leading wholesale distributor of plumbing supplies and related building products serving a large base of customers throughout northern Alabama and southern Tennessee.
CID worked closely with Park Supply's owners, Rusty Dinwiddie, Mark Stephens and Jimbo Saunders, to achieve their goals in the transaction. Rusty commented, "This is truly an exciting time for Park Supply. We are looking forward to working with CID as we continue to capitalize on the opportunities we see to grow our business."
"Park Supply has an excellent business with a reputation for outstanding customer service, sophisticated technical support and a broad product mix. The strength of the current business along with our ability to support management made this an ideal investment for CID," stated Eric Derheimer, Managing Director at CID Capital. "We are enthusiastic about our newly formed partnership with Rusty, Mark and Jimbo along with the entire Park Supply team."
In support of the recapitalization, First Horizon Bank provided the senior financing and Reinsurance Group of America provided the subordinated debt financing. Founders Advisors acted as financial advisor to Park Supply on this transaction.