LFM Capital Announces Investment in Attachments Manufacturer CID
LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced an investment in Construction Implement Depot.
CID is a manufacturer of skid steer and compact track loader attachments, compact tractor attachments, and mini-excavator attachments. CID’s products are manufactured in its Denton, N.C., factory and sold through distributors, private label, and OEM arrangements throughout North America. Its broad-based product line is used for a variety of applications, targeting the landscaping, light construction, lifestyle farmer, snow removal markets, and more. Terms of the transaction were not disclosed.
The company will emphasize a digital first strategy to provide dealers and customers with real-time visibility to pricing, availability, lead times, customization, parts, operating manuals, and more. A national dealer network will also be available for customers who prefer in-person shopping or service experiences, the company said.
LFM managing director Dan Shockley said, “We are delighted to add CID to the LFM portfolio. We’re creating the attachment company of the future that is recognized as the industry leader with an omnichannel experience to empower customers to buy how they want to buy. We want to create an ecosystem for customers to do more than merely transact and adding CID to the portfolio is a big step in that direction.”
LFM Capital is a private equity firm based in Nashville, Tenn. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. For additional information, visit www.lfmcapital.com.
CID, founded in 2003, is a manufacturer of construction implements and skid-steer attachments catering to a variety of applications such as agriculture, landscaping and light construction. Based in Denton, N.C., CID offers an extensive range of buckets, grapples, brush cutters, plows, dozers, rakes, hay equipment and more. For more information, visit www.cidattachments.com.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.