Century Park Capital Partners is pleased to announce that it has completed a dividend recapitalization of its portfolio company, Eckler Enterprises, Inc. (“Eckler’s” or the “Company”), a leading aftermarket supplier of restoration parts and accessories for enthusiast vehicles. This recapitalization was financed through a new term loan facility provided by the Company’s existing senior lenders, GE Antares Capital Corporation and Madison Capital Funding. GMB Mezzanine Capital, Eckler’s subordinated debt lender, remained fully invested in the transaction. Century Park has realized a significant return of capital, while leaving its ownership stake unchanged..
“Eckler’s has continued its impressive financial performance despite a challenging macroeconomic environment, and this year is on track to reach record revenues and profitability as demand for restoration products continues to recover strongly,” said Guy Zaczepinski, a Principal with Century Park. He continued, “We are already seeing significant increases in demand as we begin to head into the summer driving season.”.
Chip Roellig, a Managing Partner with Century Park added, “Eckler’s customer-focused approach has helped the Company become the automotive enthusiast’s first-choice supplier for a variety of makes and models. Eckler’s unique combination of strong customer service and a vast parts inventory has gained respect from individuals and professional restoration shops alike.”.
GE Antares Capital Corporation continues to be the administrative agent on the existing credit facilities..
The terms of the transaction were not disclosed.
About Eckler Enterprises, Inc.
Eckler’s is a leading multichannel retailer of aftermarket parts for predominantly classic cars. The Company’s offerings include Corvette (www.ecklers.com), 1955-1957 Classic Chevy (www.classicchevy.com), 1958-1972 Chevy (www.lategreatchevy.com), Classic Chevy Truck (www.ecklerstrucks.com), 1967-2011 Camaro (www.rickscamaros.com), Chevelle (www.ecklerschevelle.com), El Camino (www.elcaminostore.com), 1957-1979 Ford (www.dearbornclassics.com), Porsche (www.automotion.com) and Mercedes (www.performanceproducts4benz.com). Eckler’s was acquired in June of 2006 by Century Park Capital Partners.
About Century Park
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing equity for recapitalizations, buyouts, growth financings, and acquisitions. More information on Century Park Capital Partners can be found at www.centuryparkcapital.com
