Cardinal Equity Partners – Indianapolis IN

Cardinal Equity Partners Invests in DuraMark Technologies

INDIANAPOLIS, IN – December 2021:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is pleased to announce that it has partnered with management on the recapitalization of DuraMark Technologies.

DuraMark Technologies is a leading provider of durable safety labels, branding decals, and label kits to many of America’s top OEM’s.  Specializing in labels used in outdoor and other challenging work environments, DuraMark provides its customers with the industry’s best turn-around times while maintaining exemplary quality standards.  The company’s high-speed digital and traditional print capabilities along with its just-in-time delivery allow their customers to increase production efficiency, reduce inventory, and eliminate waste.  Based just north of Indianapolis and founded in 2007, the company continues to be led by its two founders, both of whom retain significant ownership positions in the company.

Cardinal will provide resources to accelerate DuraMark’s growth both organically and through add-on acquisitions of complementary businesses.

“Selecting the right partner to recapitalize our business was one of the most important decisions I have made in my business career.  Not only was it important to maximize our current valuation but we also wanted to partner with a team capable of bringing the strategic value to help us with the next phase of growth.  Cardinal has the proven experience with several platforms of the kind of performance we were looking for along with unquestioned character that matches our company’s Midwest values.” – Bill Bussick, President and CEO of DuraMark Technologies.

“We are excited to partner with Bill, Steve, and the other team members at DuraMark as we have admired the company for a number of years.  DuraMark is well positioned to continue their impressive growth trajectory as they are truly a market leader in their industrial safety label niche.  We believe we have invested in a team capable of operating a much larger business and are excited to help them execute on an aggressive growth plan.”  – Pete Munson, Managing Director of Cardinal Equity Partners. 

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Cardinal Equity Partners Co-Invests in Gillette Generators

INDIANAPOLIS, IN – September 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce a Co-investment with an independent sponsor on the purchase of Gillette Generators.

Gillette Generators is a Midwest-based manufacturer and supplier of premium standby backup and prime power generators for agricultural, commercial, industrial and critical infrastructure end users.  Gillette’s products include both natural gas and diesel powered gensets with power output ratings from 7.5kW to 1MW.  Gillette focuses on sourcing and integrating the highest quality engines and components with open-source controllers, providing the highest level of reliability and serviceability in the field.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Cardinal Equity Partners Co-Invests in Red Apple Cheese, LLC, now Heartisan Foods

INDIANAPOLIS, IN – May 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce a Co-investment with an independent sponsor and another family office on the purchase of Red Apple Cheese, LLC.

Red Apple Cheese, LLC. (“Red Apple”) produces and markets a wide variety of high-quality, natural cheeses to distributors, retailers, wholesalers, food service operators and industrial food manufacturers across North America. Red Apple’s 120+ SKUs are marketed through multiple Company owned brands and include; smoked cheeses, kosher cheeses, signature cheeses, private label cheeses, fat-free cheeses, and organic cheeses. The Company also operates a direct-to-consumer ecommerce division under the name www.cheesebros.com. Founded in 1991, Red Apple is headquartered in Barron, Wisconsin where it operates in a state-of-the-art facility adhering to strict Quality and Food Safety Assurance guidelines.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Cardinal Equity Partners Exits Aqua Systems

INDIANAPOLIS, IN – May 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce the sale of New Aqua, LLC, d/b/a Aqua Systems to Franklin Electric Co., Inc. (NASDAQ: FELE). (Please click here to view Franklin’s announcement of the acquisition)

Based in Avon, Indiana, Aqua Systems is a market leading water treatment business serving residential and commercial customers via a network of branded retail stores and nearly 600 independent water treatment dealers across the United States. The principals of Cardinal Equity acquired the company in 1997 when it was generating less than $5 million in revenue and expanded it over the years both organically and through the execution of numerous add-on acquisitions.

“The sale of Aqua after 24 years of ownership is truly a bittersweet event. It is a terrific financial outcome, but the relationships we have developed with the extraordinary management team will be missed. I couldn’t be happier, however, that the entire team is being retained by Franklin to help them expand their presence as a provider of residential and light commercial water treatment products and services,” said John Ackerman, a founder and Managing Director of Cardinal Equity Partners. “Franklin is a great landing spot for Aqua and the team and we are excited to watch them continue to build out this terrific business.”

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

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