MCM Capital Partners has sold ESSCO, the leading distributor of floor care products to independent storefront and internet retailers in the United States, to Cardinal Equity Partners. Financial details have not been disclosed.
Founded in 1924 and based in Twinsburg, Ohio, ESSCO distributes care cleaning equipment and consumable parts, including products from Hoover, Kirby, Bissell, Oreck and Panasonic. The company’s unique nationwide distribution network allows it to provide time sensitive floor care retailers with the fastest lead times and broadest product selection in the industry. ESSCO is also a leading provider of drop ship services for specialty floor care internet retailers and internet order fulfillment services for mass merchant retailers.
Cardinal Equity Partners is a private investment partnership that seeks to acquire or assist management teams in recapitalizing lower- and-middle market businesses located in the central portion of the United States. Established in 1993 under the name of Cardinal Ventures and using its own capital, the firm has been purchasing and growing niche businesses with a long term mission of creating value by providing growth capital and management resources to the companies acquired.
MCM Capital Partners is a microcap private equity firm focused on acquiring niche manufacturers, value added distributors and specialty service companies generating up to US$75 million in annual revenues and having enterprise values up to US$50 million.
Oaklins' team in Cleveland served as the exclusive investment banker to the seller in this transaction.
David D. Dunstan
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