We at Cyprium are excited to continue our long-standing relationship with Hobbico, said Cindy Babitt, a Managing Partner at Cyprium Partners.
Cleveland, Ohio (PRWEB) October 14, 2014
Cyprium Partners is pleased to announce its new subordinated debt investment in Hobbico. The capital was used to refinance the company’s existing indebtedness and to fund its ongoing growth. This was Cyprium’s second investment in Hobbico since 2010 and was made out of the firm’s Cyprium Investors IV fund.
Founded in 1971, and headquartered in Champaign, Illinois, Hobbico ( http://www.hobbico.com) is a U.S. distributor of radio-control (R/C) models and general hobby products. The company sells more than 60,000 products through three divisions targeting retail, wholesale and mass market channels. Since Cyprium’s original 2010 investment in Hobbico, the company has made several significant acquisitions, including Revell Germany, Axial and ARRMA Durango.
“We at Cyprium are excited to continue our long-standing relationship with Hobbico,” said Cindy Babitt, a Managing Partner at Cyprium Partners. “This second investment in the company is representative of the type of patient capital Cyprium deploys in best of breed businesses. We are pleased to have the opportunity to continue to support management and the other employee shareholders of this 100% employee-owned company as it continues to grow.”
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/or 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 $10 million or more of EBITDA. Learn more about Cyprium Partners at http://www.cyprium.com.
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