Gen Cap America, a private equity firm focussed on lower middle market buyouts, has sold CPS Distributors (CPS) to an undisclosed buyer.
Terms of the transaction have not been disclosed.
CPS was founded in 1890 and is the largest wholesale distributor of professional pump, irrigation and landscape supplies in the Rocky Mountain Region. Customers include contractors for commercial facilities and municipalities, as well as landscape, residential and maintenance contractors. Gen Cap America acquired CPS in October 2012 when partnering with management to buyout the previous owner.
Matt Lane, Managing Director at Gen Cap America, says: “The CPS team and operating model were the basis for our investment back in 2012 and remain the reasons for the company’s continued success today. We look forward to seeing them continue on their track record of success in their next phase.”
Barney Byrd, President of Gen Cap America, says: “CPS has been an excellent example of our firm’s long history of teaming with existing management in lower middle market companies.”
