Jul 25, 2018
CID Capital partners with ProSource
CID Capital is proud to announce that it has partnered with ProSource. Headquartered in Greenville, South Carolina, ProSource is a leading wholesale distributor of plumbing supplies and related building products serving a large base of new and aftermarket customers throughout the Southeast. CID worked closely with ProSource's co-founders, Grover and Tonya Martin, to achieve their goals. Grover commented, "This is truly an exciting time for ProSource. We are looking forward to working with CID as we continue to capitalize on the opportunities we see to grow our business." Grover and Tonya will continue to lead ProSource and are excited about the Company's future. "ProSource's approach to customer service and their sophisticated technical support combined with a broad product mix, on-time delivery, and an excellent reputation made this an ideal investment for CID," stated Eric Bruun, Managing Director at CID Capital. "We are enthusiastic about our newly formed partnership with Grover and Tonya Martin and the entire ProSource team." In support of the recapitalization, First Merchants Bank provided the senior financing and Huntington Mezzanine Finance Group provided the subordinated debt financing.
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