CID Capital Sells Classic Accessories
|July 7, 2021: Indianapolis-based private equity firm CID Capital (“CID”) announced today that it has recently completed the sale of Classic Accessories L.L.C. (“Classic”) to Twin Star Home. Classic Accessories is the leading branded manufacturer of high quality, benefit-rich protective covers as well as outdoor furnishings and accessories sold through ecommerce and traditional retailers. Terms of the deal were not disclosed.
|CID originally partnered with the founder of Classic Accessories to support management in the expansion of the Company’s product assortment and ecommerce capabilities. As the business expanded, CID invested in additional management team members, systems, facilities, marketing capabilities, and an add-on acquisition, all fundamental to Classic Accessories' long-term success. “CID really enjoyed the partnership with Classic Accessories. Management’s talent and capabilities guided the business through a period of strong multi-channel growth resulting in the category leadership and ecommerce excellence the business enjoys today,” said CID Managing Partner, Steve Cobb. "Utilizing our decades-long experience building consumer products companies alongside talented management teams, we're proud to have helped contribute to the growth of Classic Accessories over the last five years. From day one, we had a great appreciation for the team’s vision and their pursuit to develop Classic Accessories into the premier outdoor products provider it is today.” Baird served as the exclusive transaction advisor and Ice Miller acted as legal counsel to CID in this transaction.
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