Cyprium Partners, a non-control private equity firm, has completed a new preferred equity and subordinated debt investment in Chief Enterprises Holding LLC, with the proceeds used for growth and to facilitate the recapitalization of the Company.
Chief, founded in 1991 and based in Elmhurst, IL, is a value-added distributor of electrical connectors, electro-mechanical components, and customized assemblies. The Company performs product design, engineering, light assembly, and distribution of a wide range of connectors, circuit protection, power distribution, relays, and audible warning devices for the automotive, agriculture, specialty vehicle, powersport, and industrial markets. In addition, Chief is the North American distribution partner of Robert Bosch GmbH electrical connectors to Tier 1 and Tier 2 automotive suppliers.
Chief is led by its founder and CEO Andy Gabelman, who will remain the principal shareholder. Through this transaction, the Company’s management team have also become meaningful shareholders. Together with Mr. Gabelman, the management team will retain economic and operational control of the company. “Cyprium is proud to invest with Andy and his team. We are excited about supporting the Company as it grows with its world class vendors and customers”, said Mike Conaton, Managing Partner at Cyprium Partners.
“Cyprium has a tremendous amount of experience in our markets and will be able to help us navigate many opportunities coming our way”, said Mr. Gabelman. “Cyprium’s approach to non-control partnership was the perfect match for our new and expanded ownership structure”.
ABOUT CYPRIUM PARTNERS
Cyprium Partners is a private equity firm focused on non-control (minority ownership) investments. Cyprium utilizes a combination of subordinated debt, preferred stock, and/or common stock to enable privately held businesses, entrepreneurs, and management teams to achieve their financial and strategic objectives. With offices in Cleveland, New York, and Chicago, the firm invests $10 million to $60 million per transaction in U.S. and Canadian companies with $8 million or more of EBITDA.
Chief was created from a Midwestern work ethic and an honest, open approach to doing business. Founded in 1991 by a father-son duo, the Chief team has grown to be a prominent player in the on and off-road vehicular markets. And with over a quarter century experience, the Company has proven to be the key connection between our suppliers & customers providing unparalleled service & innovation. Chief’s mission is to provide superior design, engineering, and distribution solutions for today’s electro-mechanical component needs and tomorrow’s technological advances. For more information on Chief, visit store.chiefenterprises.com.