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Kansas City, Missouri – September 13, 2022- CPC, LLC, announced that it has completed the acquisition of Component Sourcing International (CSI), based in Charlotte, NC, from the company’s current management team and Argosy Capital. Founded in 1982, CSI offers global supply chain solutions, as it specializes in world-class global sourcing, engineering, quality assurance, and inventory management of highly engineered components for industrial manufacturers. The company will continue to be led by its current management team, many of whom continue as owners.
CSI is the second acquisition for CPC, LLC, a company formed to buy, build, and hold businesses with a long-term, indefinite, time horizon. “It’s been clear from our first conversation that CSI’s focus on quality and its unique controls around it allows CSI to provide a differentiated service for companies seeking a partner to manage their complicated supply chains. As new owners, we are buying this business to build it and keep it for the long term, with no intention to sell in the foreseeable future, much less the typical 5 to 7-year time horizon typical for Private Equity Groups,” commented Wiley Curran, Chairman of CPC.
“We believe an investment and partnership with CPC will position us for long-term stability and continued growth well into the future,” explained John Hornberger, CEO of CSI. John believes the acquisition brings resources and expertise laser-focused on technology, product differentiation and nothing less than world-class processes within the organization. John shared that “our Team deeply aligns with CPC on the keys to success, and I am excited to continue to be an owner in the future of this great business.”
About CPC
CPC makes long term investments and is organized as a company, not around funds like many traditional Private Equity firms. The structure that enables CPC to implement what we believe to be the best strategies to create defensible, long-term value aligning the incentives of shareholders, management, and all stakeholders in CPC’s businesses. Sustainable competitive advantage derives from long-term investments in innovation, workforce development, the adoption of new technologies, and supply chain improvements.
CPC has many unique traits that we believe differentiates it from traditional private equity firms. CPC is owned by large family offices and successful entrepreneurs that are collectively aligned around long-term decision making and wealth creation. CPC was formed from the merging of Curran Companies’ and C3 Capital’s management teams. CPC seeks to deploy at least $500MM into lower middle market businesses over the next five years. It does not use enterprise leverage to fund acquisitions, instead focusing management teams to excel in what CPC calls the Five Key Battles: People, Systems and Processes, Execution, Customer Intimacy, and Product Leadership. Prior to forming CPC, the management team has invested in over 100 businesses covering a wide variety of industries. CPC’s website can be found at CPC.LLC and any inquiries can be directed to abutler@cpc.llc.
About CSI
Founded in 1982 as Asia America Corporation, CSI has evolved into a world-class global sourcing and supply chain management leader. CSI is known for its unique and committed approach to quality management, for being an expert partner for international purchasing and product engineering, and for their ability to solve extremely complex customer challenges. In addition to its Industrial portfolio, CSI also owns AllTech Pro branded products, which are sold to heavy construction original equipment manufacturers (OEMs) and distributors, CSI Bathware, and Great Grabz branded products, which are sold to bathtub OEMs, general contractors, Division 10 and end users, and Earth’s Natural Alternative branded products, which are sold throughout online e-commerce channels. John Hornberger, CEO of CSI, has been with the organization for over 20 years. John is deeply committed to ensuring a long-term, personal partnership with every customer and vendor that works with the company, no matter their size.
XLCS Partners provided sell-side representation for CSI. Polsinelli and Cozen O’Connor provided legal representation for the buyer and seller, respectively.
This document was prepared by CPC Management, LLC for the benefit and internal use of the party to whom it is directly addressed and delivered. None of the materials, nor any content, may be altered in any way, transmitted to, copied, reproduced or distributed in any format in whole or in part to any other party without the express written consent of the Manager, which manages CPC, LLC.
This document does not constitute, or form part of, an offer to purchase or issue interests in or any security or investment product. Any such offer or solicitation will only be made pursuant to a Confidential Private Placement Memorandum (together with any supplements thereto, the “Memorandum”) and the relevant subscription documents, which will be furnished to qualified investors on a confidential basis at their request for their consideration in connection with the offering. Any decision by an investor to invest in the securities described herein should be made after a careful review of the Memorandum, the conduct of such investigations as an investor deems necessary or appropriate and after consultation with legal, accounting, tax and other advisors in order to make an independent determination of the suitability and consequences of an investment in the securities
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