Our friends at Corvette America have a new owner with an exciting vision to keep the company going strong in the 21st century.
Founded in 1977, Pennsylvania-based Corvette America has been acquired by CID Capital, which praised the company’s management team, leading product quality, strong customer service, and broad line card as some of the strong attributes that attracted them to the company.
“Corvette America is a market leader in the Corvette restoration market,” says Eric Braun, a managing director at CID. “We are excited to partner with the entire Corvette America team.”
Corvette America built its business by focusing on quality interior components but also offers a complete line of parts, wheels and other accessories for every generation of the Chevrolet sports car, with more than 24,000 SKUs in stock.
The company manufactures Corvette interiors and many other parts at its Reedsville, Pa., facility. “From mid-year wheels to parking brake shoes and shift knobs, look for the Made by Corvette America symbol and know you are getting a quality product at a reasonable price,” the company says on its website.
“CID Capital is an ideal partner that shares Corvette America’s passion for product quality, customer service, and driving shareholder value,” Corvette America CEO Orion Super said. “Our new alliance will fuel Corvette America’s vision and accelerate growth, providing customers with superior product offerings in restoration, style and performance across all generations of the iconic brands we service.”
Corvette America also includes its Mustang America division, which provides interior components, parts, wheels, and accessories for Classic Mustangs (1964-73) and Fox Body Mustangs (1979-93).
Indianapolis-based CID Capital makes majority investments in lower-middle-market companies with revenues of at least $10 million and EBITDA (earnings before interest, tax, depreciation and amortization) of $3 million to $10 million.
You can find Corvette America on the web at www.CorvetteAmerica.com.
Source:
peprofessional.com
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I don’t like it. It seems like every time one of these investment companies gets their greedy hands on a small company, there are changes — layoffs, outsourcing, crappier products and service, and higher prices. It stinks.
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