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BAIRD CAPITAL PARTNERS ACQUIRES ECKLER'S
TITUSVILLE, Fla., July 16, 2012 – Baird Capital Partners (BCP), the US-based buyout fund of Baird Private Equity, announced today the acquisition of Eckler's, the premier multi-channel, direct-to-consumer marketer of restoration parts and accessories for classic and enthusiast vehicles. Based in Titusville, Fla., Eckler's holds the top market position in six of the eight primary product lines in which it competes, including Chevrolet Corvette, Classic Chevy's from the 1950's, Camaro, Impala, El Camino and Ford Sedan. The terms of the deal were not disclosed.
Originally focused on Corvettes, Eckler's offers a wide product line including replacement and restoration parts, performance upgrade parts and accessories. The company primarily serves automotive enthusiasts who enjoy restoring classic cars and place importance on maintaining the appearance and performance of their automobiles.
“We have closely followed the direct-to-consumer hobby and enthusiast industry and believe Eckler's is well positioned in this sector, focused on serving consumers in the classic car segment,” said BCP Chairman and Partner Gordon Pan. “Classic car enthusiasts tend to be very stable, persistent and loyal to their cars, which creates a strong business model. The focus on providing the highest quality parts and exceptional customer service to those interested in restoring and maintaining popular classic automobiles drives customer loyalty, builds an excellent reputation and creates opportunities for growth. We are excited to partner with Eckler's in driving the company's next stage of development.”
“This transaction represents an exciting next step for our organization,” said Eckler's CEO Matt Jordan. “We look forward to working closely with Baird Capital Partners on expanding our market position while remaining focused on offering the highest grade parts and service our customers have come to expect.” As part of the transaction, Pan and BCP Operating Partner Harry Schulman will join Eckler's Board of Directors.
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About Baird Capital Partners
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, invests in lower middle-market companies in the business services, manufactured products and healthcare sectors. Established in 1989, Baird Capital Partners leverages its deep sector knowledge, experienced investment team and extensive operating resources to drive value in its portfolio companies.
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Eckler Industries, Inc. Acquires Dearborn Classics
TITUSVILLE, Fla., November 30, 2010 – Eckler Industries, Inc. announced today that it has acquired Dearborn Classics, the world’s leading provider of restoration parts and accessories for mid-sized and full-sized Fords.
For twenty years Dearborn Classics has been the premier source for parts and accessories for 1957 to 1979 Fords – with a focus on the Galaxie, Fairlane, Torino, Falcon, Comet, and Ranchero models. The company sells a complete line of interior and exterior parts and accessories directly to retail customers through specialty catalogs and the internet, and has been a leader in developing innovative products, including producing hard-to-find and out-of-production parts. The company is also known for market leading customer service that fits the Eckler’s tradition of excellence in the automotive restoration industry.
Matt Jordan, Eckler’s CEO, said, “This acquisition will allow Eckler’s to continue to position itself as the industry leader for restoration of all makes and models of classic cars and trucks. We’re very excited about Dearborn Classics – it’s a terrific company and a great fit for Eckler’s given its leadership in restoration for the Ford market. Our primary goals for Dearborn as part of the Eckler’s family will be to make the transition as seamless as possible to Dearborn’s customers, and further expand their product offering. We will continue to focus on providing outstanding customer service, introducing new products, and maintaining the company’s position as the premier supplier of parts to 1957 to 1979 Ford owners”.
Eckler Industries is owned by Century Park Capital Partners. Guy Zaczepinski, a Principal with Century Park, commented “Dearborn Classics has a great reputation as a source for parts and technical support for anyone restoring a 1957 to 1979 full-sized Ford. This acquisition is another example of Eckler’s commitment to serving customers in all segments of the restoration market with the broadest product offering and best customer service available. Eckler’s continues to seek opportunities to expand into new makes and models in the extremely fragmented restoration parts and accessories aftermarket. We remain focused on broadening and growing our business through additional complementary acquisitions and natural product line expansion.”
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. More information on Century Park Capital Partners can be found at www.centuryparkcapital.com.
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