ASHEVILLE, N.C. – Cold Mountain Capital, LLC is pleased to announce the sale of a portfolio company, Graco Supply & Integrated Services, Inc. to CM Equity Partners of New York City. Terms of the transaction were not released.
In partnership with Cotton Creek Capital, Cold Mountain purchased Graco Supply in March 2011. Following the acquisition, the partnership embarked upon a strategy to improve operating performance and sales growth through product line and geographic expansion. During their ownership, sales grew by 50 percent, and earnings improved 150 percent.
“The sale of Graco Supply to CM Equity Partners is the culmination of over four years of consistent, high-quality work by the management of Graco and the equity partners who invested in the company,” said Kenneth Glass, Chairman of Cold Mountain. “This level of operational and financial improvement is what we expect to achieve from our portfolio companies. We work hard to invest in our people, business processes, and infrastructure to generate sustainable, industry-leading results.”
David Nolletti, Cold Mountain’s Chief Executive Officer and lead Director of Graco, added, “We are proud of the results that we achieved with Graco and the opportunity the Company’s business trajectory and position in the industry offers to the new owners. Most of all, we are fortunate to have partnered with a strong management team at Graco led by Stephen Novakovich and Jeffrey Hazelrigg, and to have had exceptional partners in Cotton Creek Capital.”
SunTrust Robinson Humphrey advised Cold Mountain and Cotton Creek Capital on this transaction.
About Cold Mountain Capital, LLC
Cold Mountain Capital, LLC of Asheville, North Carolina, is a private equity and management firm that focuses on aerospace and defense lower-middle market manufacturing and technical service businesses. Their industry knowledge, hands-on approach, and transactional flexibility enable Cold Mountain to conduct transactions quickly, and dramatically improve operating and financial performance. Find out more about Cold Mountain at www.ColdMountainCapital.com