CIC Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

CIC Partners’ most common sectors for investment areoil/gas exploration (22%) and food (20%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (36%) and stake purchase (20%). In total, CIC Partners has invested in 15 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 1986 when it acquired Darling Ingredients for $90M.

The Firm’s most common exit type is trade sale (28%). CIC Partners’ largest (disclosed) exit occurred in 2016 when it sold Continental Structural Plastics for $825M.

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M&A Summary

  • M&A Total Activity71
    • M&A Buy Activity42
    • M&A Sell Activity29
  • Total Sectors Invested 17
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 21
  • M&A Advisors 1

CIC Partners

3879 Maple Avenue, Suite 400,
Dallas, Texas 75219
United States
(214) 871-6812
www.cicpartners.com
info@cicpartners.com

CIC Partners is a lower middle-market private equity firm that targets investments in energy, food service, manufacturing, service, retail, technology, and media companies. CIC looks for businesses generating sales of $10 to $500 million where the firm can invest $5 to $50 million of equity capital, either as a majority or minority position. Prospective transaction situations include management-led buyouts, growth financings, and recapitalizations. CIC Partners is the successor to Cardinal Investment Company's Private Equity Group, originally formed in 1974. CIC Partners is based in Dallas, Texas.


Investment Criteria

Sectors of Interest: Agriculture, Automotive, Beverages, Business Services, Consumer Services, Distribution, Education, Energy Services and Equipment, Financial Services, Food, Franchising, Furniture, Healthcare Services, Leisure, Life Science, Manufacturing, Marketing, Media, Medical Products, Oil/Gas Exploration, Packaging, Plastics, Publishing, Restaurants, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 10 500
Target EBITDA 5 50
Investment Size 5 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.2/yr) # 41 1 - - - - 42
vol $90M $90M
Sell (0.2/yr) # 28 1 - - - - 29
vol $1.6B $1.6B
  71

Most Recent M&A

Company Date Value Type
TSU One Holdings LLC 2021-04-06 - Growth Capital
Fort Worth, Texas · www.tsu1.com
DynaGrid Holdings LLC 2021-01-13 - Secondary Buyout
Lewisville, Texas · www.dynagrid.com
Tri-state Vacuum & Rental LLC 2020-10-27 - Growth Capital
Joaquin, Texas · www.tristateoilfield.com
McClancy Foods & Flavors 2020-01-01 - Recapitalization
Fort Mill, South Carolina · www.mcclancy.com
RMX Resources LLC 2018-04-26 - Buyout (LBO, MBO, MBI)
, California
Taco Mac Restaurant Group 2018-03-16 - Unknown
Atlanta, Georgia · www.tacomac.com
DynaGrid Holdings LLC 2018-03-01 - Growth Capital
Lewisville, Texas · www.dynagrid.com
Pogo Resources LLC 2017-07-25 - Buyout (LBO, MBO, MBI)
Dallas, Texas
River Point Farms 2017-01-17 - Add-on Acquisition
Hermiston, Oregon · www.riverpointfarms.com
Activa Resources LLC 2016-10-13 - Buyout (LBO, MBO, MBI)
San Antonio, Texas
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 3 (33%) - 9 (21%) -
Food 3 (33%) - 8 (19%) -
Restaurants 1 (11%) - 7 (17%) -
Packaging - - 3 (7%) -
Business Services - - 2 (5%) -
Financial Services - - 2 (5%) -
Environmental - - 1 (2%) 90M (100%)
Automotive - - 1 (2%) -
Energy Services and Equipment 1 (11%) - 1 (2%) -
Engineering - - 1 (2%) -
Healthcare Services - - 1 (2%) -
Leisure - - 1 (2%) -
Medical Products - - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Utilities 1 (11%) - 1 (2%) -
Total 9 - 42 $90M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 9 (100%) - 41 (98%) 90M (100%)
  Texas 6 (67%) - 24 (57%) 90M (100%)
  California 1 (11%) - 3 (7%) -
  South Carolina 1 (11%) - 2 (5%) -
  Indiana 1 (11%) - 1 (2%) -
  Georgia - - 1 (2%) -
  Connecticut - - 1 (2%) -
  Colorado - - 1 (2%) -
  Arkansas - - 1 (2%) -
  Arizona - - 1 (2%) -
  Utah - - 1 (2%) -
  Oregon - - 1 (2%) -
  New York - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
  Idaho - - 1 (2%) -
Canada - - 1 (2%) -
  British Columbia - - 1 (2%) -
Total 9 - 42 $90M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (44%) - 15 (36%) 90M (100%)
Stake Purchase - - 8 (19%) -
Growth Capital 3 (33%) - 7 (17%) -
Recapitalization 1 (11%) - 5 (12%) -
PIPE - - 3 (7%) -
Venture 1 (11%) - 2 (5%) -
Consolidation - - 1 (2%) -
Divestiture - - 1 (2%) -
Total 9 - 42 $90M

Exits by Deal Type

Type Total # Value
Trade Sale 9 (31%) -
Secondary Sale 7 (24%) 250M (16%)
Trade Sale - Public Company 5 (17%) 990M (63%)
IPO 3 (10%) -
Sold to Management 2 (7%) -
Recapitalization 1 (3%) 180M (11%)
Bankruptcy 1 (3%) 150M (10%)
Unknown 1 (3%) -
Total 29 $1.6B

Top M&A Advisors

Financial Deals
Robert W. Baird & Co., Inc.
 1

Deal Values

buy # Total
< $100M 1 $90M
TOTAL $90M
Largest Darling Ingredients, Inc.
$90M (1986-01-01)
sell # Total
$100M to $1B 4 $1.4B
< $100M 2 $165M
TOTAL $1.6B
Largest Continental Structural Plastics, Inc.
$825M (2016-09-13)

M&A Connections

Deals
Acquired from
Investor(s)
2%
1 (2%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
24%
7 (24%)
Strategic(s)
28%
8 (28%)

Investor Summary

Investor Type

Private Equity Firm

Size

Middle-Market

PE Assets

500M USD

Established

1974

Specialist/Generalist

Generalist

Leadership

Fouad Bashour

Founding Partner

Marshall Payne

Founding Partner

Michael Rawlings

Founding Partner

Amir Yoffe

Partner

Chris Cowan

Senior Partner

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