Kraco is a market leader in its category. We're delighted this real estate acquisition enables their management to focus on bringing new innovations to market
Austin, TX (PRWEB) September 8, 2008
AIC Ventures, a real estate investment firm specializing in strategic corporate finance solutions for middle-market companies, acquired Los Angeles-based Kraco Enterprises, Inc.'s nearly 350,000-square-foot corporate headquarter location.
AIC Ventures' private equity real estate fund, NL Ventures VII, through an affiliate, acquired the property and simultaneously entered into a long-term lease with Kraco.
Leading developers of aftermarket automotive floor mats for cars, SUVs and vans, and floor mats for home and commercial use, Kraco was acquired by an affiliate of Sun Capital Partners, Inc. in tandem with the purchase of the company's real estate assets. Terms of the acquisitions were not disclosed.
"Kraco is a market leader in its category. We're delighted this real estate acquisition enables their management to focus on bringing new innovations to market," said David Steinwedell, managing partner, AIC Ventures. "The Kraco purchase compliments our growing portfolio of industrial and office facilities in strong markets."
Located southeast of downtown Los Angeles, the headquarters and manufacturing location is comprised of two industrial buildings across 10 acres.
Kraco plans to leverage the capital infusion to expand domestically and internationally through organic growth and new industry-related acquisitions. New product lines slated from the company include a full-line of environmentally friendly "Eco-mats" made from recycled materials.
"In 2008, we have completed a record volume of transactions and will continue to be the leader in sale leaseback acquisitions across the country," said Steinwedell.
About AIC Ventures
AIC Ventures is a leading provider of capital to middle-market companies. With over $800 million in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies facing limited, short-term or expensive alternatives for capital. The company has closed more than 95 transactions in 27 states. Whether sellers need to close quickly, have private equity interests, environmental or other challenges, AIC Ventures can help. For more information, visit http://www.AICVentures.com.
Those interested in receiving future updates on AIC Ventures via e-mail can register at http://www.aicventuresmedia.com.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 195 companies worldwide with combined sales in excess of $40.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfort, Tokyo, and Shenzhen.
For more information, please visit http://www.SunCapPart.com.