News

Capital Partners has made an investment in Blooming Prairie, Minnesota-based Minimizer, a provider of branded heavy-duty truck aftermarket accessories. No financial terms were disclosed. CIBC provided the debt funding for the transaction.

PRESS RELEASE

Capital Partners® is pleased to announce that Capital Partners Private Equity Income Fund III, LP completed an investment in Minimizer, LLC (“Minimizer”) on August 31, 2018 in partnership with its shareholders and management, who will continue to lead the company.

Headquartered in Blooming Prairie, Minnesota, Minimizer is a leading manufacturer and distributor of branded heavy-duty truck aftermarket accessories. Its products include fenders, brackets, floor mats, seats and several other product lines in and on the truck. Minimizer prides itself on its ability to leverage numerous marketing activities to reach end users, grow brand awareness and drive sales growth through their extensive distributor network.

“We are very excited about our new relationship with Capital Partners,” said Minimizer CEO and President, Christopher Thorpe (“CT”). “Over the last six months we conducted an exhaustive search for the right investor; one who shared our cultural beliefs and plans for growth over the next five years. Capital Partners is an ideal fit to help take Minimizer to the next level.”

Former Minimizer CEO, Craig Kruckeberg will remain active and invested in the company.

“This is the best of both worlds for me, personally,” said Kruckeberg. “While I will remain very much involved with Minimizer, this partnership will allow me to pursue other interests, including the Bandit Big Rig Series. As a second generation owner I wanted a firm that knew our industry and has a history of looking after the people, so I was very happy we could move forward with Capital Partners”
Capital Partners, based in Connecticut, has a history of investing in heavy duty truck part companies. Capital Partners’ equity investment will provide Minimizer with additional resources to support the growth of the Company including investing in new products and additional people.

“Unlike most private equity firms, we use a low debt investment approach designed to support rapid growth,” said Managing Partner Mark Allsteadt. “Minimizer is a tremendous fit for us, with a great owner in Craig Kruckeberg and a committed and talented management team, which remains in place as our partner.”

Capital Partners will assume majority ownership with its equity investment. Debt financing was provided by CIBC. Founders Advisors served as the advisor to the seller.

Please visit the Capital Partners website at www.capitalpartners.com or Minimizer’s website at https://www.minimizer.com for more details.

Capital Partners’ philosophy is to acquire companies with defensible market positions and partner with exceptional management teams.

Investment characteristics:
Seasoned and experienced management teams with strong entrepreneurial drive
Prefer to acquire and expand companies in concert with existing management
Control and minority investments
Asset purchase or equivalent preferred (typically companies organized as S Corporations, LLC’s, Partnerships or divisions of larger companies)
EBITDA between $4MM and $25MM
Strong, committed management teams
Demonstrated ability to produce excess cash flow
Manageable customer concentration
Sectors: Manufacturing, Services, Distribution, Consumer, Food

About Capital Partners
Capital Partners (www.capitalpartners.com) is a private investment firm founded in 1982. Our principals have invested in more than 90 platform and add-on acquisitions across a variety of industries.

Based on the combination of solid investment discipline and our low leverage approach, we have successfully partnered with management teams through multiple economic cycles.