September 30th, 2022: Indianapolis-based private equity firm CID Capital (“CID”), which recently closed its largest fund in the firm's history, announced that it has partnered with Wiseway. Founded in 1972, Wiseway serves small and midsize contractors in residential and commercial end markets as a leading distributor of electrical, plumbing, and lighting supplies. For 50 years, the company has been dedicated to providing its customers with the most knowledgeable product expertise and accommodating customer service in the industry.
CID worked closely with John Cain, President of Wiseway, to execute the transaction and will continue partnering with John throughout the investment. John commented, "As we celebrated Wiseway's first fifty years this year, I found myself contemplating the next 50 years. It was clear we needed a partner to invest in Wiseway's future and its team. Among all our options, CID Capital brought everything that we would want to the table. For the first time ever, we now have a formal Board of Directors that contains knowledgeable people keenly focused on our growth and profitability. My Executive Team and I look forward to working with Cory Heck, CID's Managing Director, and the great team and resources of CID Capital. Without hesitation, I would recommend CID Capital for anyone considering a partner for growth!"
“We are thrilled to partner with John Cain and the Wiseway team as they have the customer reputation, skills and drive to take the business to new heights,” said Cory Heck, Managing Director. “Wiseway’s demonstrated track record of both organic and acquisition growth was incredibly compelling and we believe our combined efforts can yield strong results.”
In support of the recapitalization, Reinsurance Group of America provided the financing.
Headquartered in Florence, KY, Wiseway is a leading value-added distributor of electrical and plumbing supplies to residential and commercial contractors. The Company has 11 locations spreading from Central Ohio to Central Kentucky, including the greater Cincinnati and Lexington areas.