Century Park Capital Partners is pleased to announce that it has completed the sale of its portfolio company, Eckler Holdco, Inc. (“Eckler’s” or the “Company”) to Baird Capital Partners, a Chicago-based private equity firm.
“We are very proud of what the Eckler’s team has been able to accomplish, which was to build one of the leading multichannel marketers of parts and accessories for automobile enthusiasts,” said Chip Roellig, Managing Partner with Century Park. He added, “By partnering with management to aggressively grow the Company, we were able to deliver a favorable outcome for Century Park and our limited partners.”
Guy Zaczepinski, Principal with Century Park said, “The growth of Eckler’s both organically and through its successful integration of five acquisitions underscores the impact of our approach to building leading companies in the middle market. Matt Jordan and the entire management team at Eckler’s did an absolutely incredible job running this business, especially given the challenging macroeconomic environment.” He added that Baird identified Eckler’s strong potential as a platform for additional acquisitions and presented a compelling offer to acquire the Company.
Since Century Park Capital’s original acquisition in 2006, Eckler’s consummated five acquisitions, greatly expanding the Company’s range of products to reach a much broader enthusiast vehicle base. Initially specializing in primarily Corvette-based products, the Company now serves a variety of makes including Ford, Chevrolet, Porsche and Mercedes.
“We have had a great relationship with Century Park, and my team and I have valued their guidance and support in building our platform. The Century Park team felt like a true partner and it was a pleasure to work with them,” said Matt Jordan, President and CEO of Eckler’s. “We are pleased that this exit will deliver solid returns for their investors and we are excited for the next chapter of our growth.”
Sidley Austin LLP served as legal counsel to Century Park and Lazard served as the exclusive financial advisor to Eckler’s.
The terms of the transaction were not disclosed.
About Eckler Holdco, Inc.:
Eckler’s is a leading multichannel retailer of aftermarket parts for predominantly classic cars. The Company’s offerings include Corvette (www.ecklers.com), 1949-1954 Early Chevy (www.ecklersearlychevy.com), 1955-1957 Classic Chevy (www.classicchevy.com), 1958-1972 Chevy (www.lategreatchevy.com), Classic Chevy Truck (www.ecklerstrucks.com), Camaro (www.rickscamaros.com), Firebird (www.ecklersfirebird.com), Chevelle (www.ecklerschevelle.com), El Camino (www.elcaminostore.com), 1957-1979 Ford (www.dearbornclassics.com), Porsche (www.automotion.com) and Mercedes (www.ecklersmbzparts.com). Eckler’s was acquired in June of 2006 by Century Park Capital Partners.
About Century Park Capital Partners:
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $50 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions. For more information on Century Park Capital Partners, please visit www.centuryparkcapital.com.
About Lazard Middle Market LLC:
Lazard Middle Market LLC (www.lazardmm.com), a subsidiary of Lazard Ltd (NYSE:LAZ), provides strategic advice on mergers and acquisitions, restructuring, and public and private capital raising to the middle market. Their professionals focus exclusively on mid-cap companies, bringing to bear all the industry expertise, senior board-level relationships, and local perspectives of Lazard’s bankers in 42 cities across 27 countries in North America, Europe, Asia, Australia, and Central and South America.