INDIANAPOLIS, IN – April 2024:  Cardinal Equity Partners, LLC, an Indianapolis based, family backed private investment firm is pleased to announce the sale of its portfolio company, Poly-Wood, LLC (d/b/a “POLYWOOD”) to an investor group led by Arsenal Capital Partners (“Arsenal”), in partnership with BayPine LP (“BayPine”). Financial terms of the transaction were not disclosed.

Headquartered in Syracuse, Indiana, POLYWOOD, purchased by Cardinal and another investment firm in 2015, is a leading high-density polyethylene (“HDPE”) outdoor living products brand in North America. Founded in 1990, POLYWOOD pioneered this fast-growing segment of the high-quality outdoor living products market offering consumers a superior product value proposition relative to traditional material options such as wood, wicker, and metal. The Company’s differentiated competitive positioning is underpinned by industry-leading scale, #1 brand awareness, vertically integrated domestic manufacturing, omnichannel distribution, and an innovative, comprehensive product portfolio. Products include Adirondack, rocking and occasional chairs, benches, swings, dining sets, and deep seating used in residential back yards, patios, and decks as well as restaurants, cruise ships and hotels, which POLYWOOD sells through a digitally led, omnichannel distribution strategy.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market consumer product, manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Indianapolis, IN – April 2024:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, announces its portfolio company, Guardian Pharmacy Services, celebrating 20 years as one of the nation’s largest and most innovative long-term care pharmacy companies, is expanding services through seven states in the western U.S. through a partnership with Heartland Pharmacy, a long-term care pharmacy based in Idaho Falls, ID.

This strategic partnership marks a pivotal moment for Guardian, which will expand its reach serving assisted living, skilled nursing, and behavioral health communities as well as individuals with intellectual and developmental disabilities in 47 locations serving 35 states.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – August 2024:  Cardinal Equity Partners, LLC, an Indianapolis based, family backed private investment firm is pleased to announce that we have successfully participated in the majority recapitalization of A.S.A.P. Garage Door Repair, Inc. (“ASAP”).

ASAP is a leading servicer, installer, and wholesaler of residential and commercial garage doors and accessories located in the Chicago suburb of Huntley, IL with an additional office in Eagle River, WI. Cardinal provided the majority equity in the transaction that was led by Centerfield Equity Partners www.centerfieldequity.com.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market consumer product, manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Indianapolis, IN – August 2024:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is excited to announce that DuraMark Technologies has successfully completed an add-on acquisition by partnering with the founding family ownership of Express Images, Inc., based in greater Minneapolis.

DuraMark, located in Westfield, IN is a leading provider of durable safety labels, branding decals, and label kits to many of America’s top OEM’s. The addition of Express Images provides customer expansion, in-house screening capabilities, and a deeper expertise in printing acumen. DuraMark will continue to be led by its founder and will look for further opportunities to be acquisitive. The Express Images opportunity was surfaced by a search engagement led by True North Strategic Advisors www.truenorthsa.com

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – May 2023:  Cardinal Equity Partners, LLC, an Indianapolis based, family backed private investment firm is pleased to announce that it has sold its investment in Contour Industries, Inc. d/b/a Contour Glass to a group including its long-term management team.  The management team was supported by significant investments from a Cardinal principal as well as Kissel Capital.  Cardinal acquired Contour in 2011.

Based in the Kingsport, TN area, Contour Glass fabricates glass parts for the appliance, building products, and RV industries, focusing on high volume production runs on its multiple tempering furnaces.  The management team has been in place for the duration of Cardinal’s investment period.  Marc Massa, CEO, stated, “It has been a pleasure working with the partners of Cardinal as we navigated through many successes as well as a few challenges during our partnership.  I, along with my two top leaders in the business, are delighted that Cardinal was willing to facilitate a transaction to our group.  Today, the business is positioned for future success with much of the credit attributed to leadership provided by Cardinal.”

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – November 2022:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is pleased to announce our participation with an independent sponsor and a limited partner syndicate in the investment of Sanitary Solutions Group.

Sanitary Solutions Group is a supplier of stainless steel fittings, valves, tubing and accessories to distributors serving the food and beverage industries as well as other end markets.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – October 2022:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is pleased to announce our participation with an independent sponsor and a limited partner syndicate in the investment of Devansoy, Inc.

Devansoy, Inc is a manufacturer of plant protein-based ingredients focusing on soy, oat and pea-based products.  The company operates in the ”better for you” food and beverage category, appealing to the growing health-conscious consumer.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – July 2022:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is pleased to announce our participation with an independent sponsor and a limited partner syndicate in the investment of DK2, Curahee Trailers and SnowBear.

With the three simultaneous acquisitions, the combined entities, operating under the DK2 corporate umbrella, becomes North America’s leading provider of small-to-medium scale outdoor power equipment tools and utility trailers.

DK2 is an industry leader specializing in outdoor power equipment, trailers, winches, snowplows, and auto accessories.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – December 2021:  Cardinal Equity Partners, LLC, a family-backed investment company investing in middle-market companies, is pleased to announce that it has partnered with management on the recapitalization of DuraMark Technologies.

DuraMark Technologies is a leading provider of durable safety labels, branding decals, and label kits to many of America’s top OEM’s.  Specializing in labels used in outdoor and other challenging work environments, DuraMark provides its customers with the industry’s best turn-around times while maintaining exemplary quality standards.  The company’s high-speed digital and traditional print capabilities along with its just-in-time delivery allow their customers to increase production efficiency, reduce inventory, and eliminate waste.  Based just north of Indianapolis and founded in 2007, the company continues to be led by its two founders, both of whom retain significant ownership positions in the company.

Cardinal will provide resources to accelerate DuraMark’s growth both organically and through add-on acquisitions of complementary businesses.

“Selecting the right partner to recapitalize our business was one of the most important decisions I have made in my business career.  Not only was it important to maximize our current valuation but we also wanted to partner with a team capable of bringing the strategic value to help us with the next phase of growth.  Cardinal has the proven experience with several platforms of the kind of performance we were looking for along with unquestioned character that matches our company’s Midwest values.” – Bill Bussick, President and CEO of DuraMark Technologies.

“We are excited to partner with Bill, Steve, and the other team members at DuraMark as we have admired the company for a number of years.  DuraMark is well positioned to continue their impressive growth trajectory as they are truly a market leader in their industrial safety label niche.  We believe we have invested in a team capable of operating a much larger business and are excited to help them execute on an aggressive growth plan.”  – Pete Munson, Managing Director of Cardinal Equity Partners. 

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – September 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce a Co-investment with an independent sponsor on the purchase of Gillette Generators.

Gillette Generators is a Midwest-based manufacturer and supplier of premium standby backup and prime power generators for agricultural, commercial, industrial and critical infrastructure end users.  Gillette’s products include both natural gas and diesel powered gensets with power output ratings from 7.5kW to 1MW.  Gillette focuses on sourcing and integrating the highest quality engines and components with open-source controllers, providing the highest level of reliability and serviceability in the field.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – May 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce a Co-investment with an independent sponsor and another family office on the purchase of Red Apple Cheese, LLC.

Red Apple Cheese, LLC. (“Red Apple”) produces and markets a wide variety of high-quality, natural cheeses to distributors, retailers, wholesalers, food service operators and industrial food manufacturers across North America. Red Apple’s 120+ SKUs are marketed through multiple Company owned brands and include; smoked cheeses, kosher cheeses, signature cheeses, private label cheeses, fat-free cheeses, and organic cheeses. The Company also operates a direct-to-consumer ecommerce division under the name www.cheesebros.com. Founded in 1991, Red Apple is headquartered in Barron, Wisconsin where it operates in a state-of-the-art facility adhering to strict Quality and Food Safety Assurance guidelines.

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – May 2021:  Cardinal Equity Partners, LLC, a family-owned investment company investing in middle-market companies, is pleased to announce the sale of New Aqua, LLC, d/b/a Aqua Systems to Franklin Electric Co., Inc. (NASDAQ: FELE). (Please click here to view Franklin’s announcement of the acquisition)

Based in Avon, Indiana, Aqua Systems is a market leading water treatment business serving residential and commercial customers via a network of branded retail stores and nearly 600 independent water treatment dealers across the United States. The principals of Cardinal Equity acquired the company in 1997 when it was generating less than $5 million in revenue and expanded it over the years both organically and through the execution of numerous add-on acquisitions.

“The sale of Aqua after 24 years of ownership is truly a bittersweet event. It is a terrific financial outcome, but the relationships we have developed with the extraordinary management team will be missed. I couldn’t be happier, however, that the entire team is being retained by Franklin to help them expand their presence as a provider of residential and light commercial water treatment products and services,” said John Ackerman, a founder and Managing Director of Cardinal Equity Partners. “Franklin is a great landing spot for Aqua and the team and we are excited to watch them continue to build out this terrific business.”

About Cardinal Equity Partners, LLC

Cardinal Equity Partners represents the private investing arm of a family office. Since 1993 the company has been investing alongside great management teams in niche middle-market manufacturing, distribution, and business service companies with the goal of long-term value creation. The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

INDIANAPOLIS, IN – September 2020:  Cardinal Equity Partners, LLC, a multi-family owned investment firm investing in middle-market companies is pleased to announce the sale of its portfolio company, Motion Tech Automation, LLC (“Motion Tech”) to Carlisle Companies, Inc.  Cardinal acquired Motion Tech in 2010.

Based in Oakdale, MN, Motion Tech is a full-service provider of motion control products and services. Its capabilities include motion control technology, product development and engineering services, and assembly services.  It leverages these capabilities to provide its customers with a broad range of highly engineered products, as well as manufacture its proprietary line of Lion Precision sensors.

“It was a pleasure to work with the Fred Sutter and the rest of team at Motion Tech,” said Jim Smeltzer, a Managing Director of Cardinal Equity Partners.  “The build out of the management team, the execution of operational improvements, and the transition of the business from its historical distribution roots to a provider of value-added products and services are perfect examples of Cardinal’s long-term value creation strategy.  We believe Motion Tech has a bright future and wish Fred and the team continued success.”

Fred Sutter, CEO of Motion Tech commented: “The Principals at Cardinal were true partners and an invaluable resource and sounding board during my time as CEO.  With the transaction, we are no longer business partners, but my relationship with John, Jim, and Pete as friends will continue.”

About Cardinal Equity Partners, LLC

Cardinal Equity Partners is a multi-family owned investment firm that has been investing in niche middle-market manufacturing, distribution, and business services companies since 1993.  The diverse operating experience of its principals and flexible investment holding period make it an ideal acquirer of family-owned businesses.

Westfield, Indiana (August 5, 2019) — EastPoint Sports Ltd., LLC (“EastPoint”), announced today that it has closed on the acquisition of Wild Sales, LLC (dba Wild Sports), a portfolio company of Cardinal Equity Partners.  The transaction combines North America’s leading supplier of tailgate games with the leading supplier of home recreational sporting goods.

Wild Sports designs, sources, and distributes licensed and branded tailgate games, lawn games, and tabletop games.   The company sells through sporting goods, e-commerce, mass, and specialty retail channels.  Owned brands include KanJam and Proline Tailgating.  Wild Sports is also a licensee for the NFL, MLB, NHL, and over 350 colleges.  The company was founded in 2004 by members of management, who recapitalized the business in 2017 with investments from Cardinal and other partners.  A portion of Cardinal’s investment has been reinvested into EastPoint.  Wild’s management team will remain involved in helping build the newly combined businesses and members of Cardinal will continue to be involved with board level oversight.

“Wild Sports’ tailgate games, lawn games, and tabletop games are a great fit for the growing home recreational sporting goods market that EastPoint serves,” said Mike Nally, Chief Executive Officer and President of EastPoint. “The addition of their branded and licensed products to our already broad product line offers retailers, E-tailers, and consumers a single source for indoor and outdoor fun.”

About EastPoint Sports

Based in Succasunna, New Jersey, EastPoint designs, sources, and distributes indoor and outdoor home recreational sporting goods.  With an office in Shanghai, China and 3PL facilities in California and Ontario, Canada, the company sells through retail and e-commerce channels.  Owned and licensed brands include Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, and PENN. EastPoint is a portfolio company of Mason Wells, a Milwaukee private equity group.   For more information, please visit the EastPoint website at www.eastpointsports.com.

About Cardinal Equity Partners, LLCCardinal Equity Partners is a multi-family owned investment firm that has been investing in niche middle-market manufacturing, distribution, and business services companies since 1993. The diverse operating experience of its principals and flexible investment holding period make it ideal acquiror of family-owned businesses.

Indianapolis, IN (July 2019) Cardinal Equity Partners, LLC, a multi-family owned investment firm investing in middle-market companies is pleased to announce the sale of its portfolio company, ESSCO, to CapitalWorks, LLC. Terms of the transaction were not disclosed. Cardinal acquired ESSCO in 2012.

ESSCO is the nation’s leading value-added distributor of floor care products to household distributors, e-commerce retailers, and independent dealers across the United States. It provides industry-leading services to its customers and its vendors from two distribution facilities in Twinsburg, OH and Sparks, NV.

“It was a pleasure to work with the Rob Glockner and the rest of team at ESSCO,” said John Ackerman, a Managing Director of Cardinal Equity Partners. “The build out of the management team, the execution of operational improvements, and the revenue growth achieved by ESSCO though both organic initiatives and acquisitions over the years are a perfect example of Cardinal’s long-term value creation strategy. We believe ESSCO has a bright future and wish Rob and the team continued success.”

Rob Glockner, CEO of ESSCO commented: “ESSCO is the second Cardinal portfolio company for which I’ve served as CEO. The Principals at Cardinal have always been true partners and an invaluable resource and sounding board during my times as CEO. With the transaction, we’re no longer business partners, but my relationship with John, Jim, and Pete as friends will continue.”

About Cardinal Equity Partners, LLCCardinal Equity Partners is a multi-family owned investment firm that has been investing in niche middle-market manufacturing, distribution, and business services companies since 1993. The diverse operating experience of its principals and flexible investment holding period make it ideal acquiror of family-owned businesses.

Indianapolis, IN (April 15, 2019)  Cardinal Equity Partners, LLC, a multi-family owned investment firm investing in middle-market companies is pleased to announce that its portfolio company, New Aqua LLC d/b/a Aqua Systems of Avon, IN has acquired Hellenbrand, Inc. of Madison, WI.

Both Aqua Systems and Hellenbrand are leading providers of water softeners, bottled water, reverse osmosis drinking water systems and other water-related products and services to residential and commercial customers throughout the Midwest and across the country.

“The combination of Aqua Systems and Hellenbrand is a perfect example of Cardinal’s long-term value creation strategy” said John Ackerman, a Managing Director of Cardinal Equity Partners. “Aqua Systems has grown both organically and through acquisition over the years and is now the largest independently-owned water treatment organization in the Midwest and we are excited about the growth opportunities for the combined firms”.

Don Line, CEO of Aqua Systems commented: “Aqua Systems has built its reputation over the years by providing unparalleled service and best-in-class equipment to its customers. Jeff Hellenbrand and his family have built their business the same way. Partnering with the Hellenbrand team will enable us to provide more and more value to our customers in terms of superior products and industry-leading technical expertise”.

Jeff Hellenbrand, CEO of Hellenbrand, Inc. added: “When we decided that it was time to sell our company in order to meet the objectives of our shareholders, we made one call…to the people at Aqua Systems. As a family-owned and operated business, it was important that we find a partner that shared the values upon which our business was built. Like Hellenbrand, Aqua Systems has a decades-long track record of providing exceptional value to its customers and outstanding opportunities to its employees. We’re excited to be part of the Aqua Systems family”.

About Cardinal Equity Partners, LLCCardinal Equity Partners is a multi-family owned investment firm that has been investing in niche middle-market manufacturing, distribution, and business services companies since 1993. The diverse operating experience of its principals and flexible investment holding period make it ideal acquiror of family-owned businesses.

Atlanta, GA (April 1, 2018)  Guardian Pharmacy, the nation’s third largest institutional pharmacy serving patients in skilled nursing and assisted living homes, announced today the acquisition of Mallatt’s Pharmacy in Madison, Wisconsin. Mike Flint, RPh, will continue to lead the two locations in Wisconsin and will focus on building his pharmacy teams to support growth throughout that state.   Guardian Pharmacy was established by the principals of Cardinal Equity Partners with another Indianapolis investment group in 2003. Today, the company offers prescription services to patients in over 18 states.

About Cardinal Equity Partners, LLCCardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Indianapolis, In (March 12, 2018)  New Aqua LLC, D/B/A Aqua Systems, one of the largest independent providers of water purification and softening equipment in the U.S., announced that it has recently acquired Mohre Soft Water, LLC of Lansing Michigan.  With this addition, Aqua Systems now supplies over 40 Aqua Systems store locations in the U.S.  In addition, Aqua Systems is a wholesale distributor to hundreds of other quality independent water dealers across the country.  Aqua Systems, owned by the principals of Cardinal Equity Partners since 1997, is the largest independent provider of water conditioning equipment and bottled water in the eastern half of the United States.

About Cardinal Equity Partners, LLCCardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Westfield, IN (March, 2018)   Cardinal Equity Partners is pleased to announce that Wild Sales, LLC (“Wild Sports”), a portfolio company of Cardinal Equity Partners, Centerfield Capital Partners, and Expedition Capital Partners, has completed the acquisition of KanJam, LLC (“KanJam”).

Wild Sports is a leading manufacturer of licensed and branded tailgating, homegating and outdoor gaming products, including well known games such as Cornhole, Tailgate Toss and Stackers. Wild Sports is an exclusive licensee for NFL, MLB and NHL products and also maintains a dominant share among colleges with over 500 licenses. KanJam is a leading manufacturer of backyard, beach and party games, best known as the pioneer and inventor of the popular disc sport KanJam.

The acquisition of KanJam provides a natural product extension for Wild Sports and is expected to result in expanded distribution, enhanced product development and the ability of KanJam to leverage Wild Sport’s licensing across the KanJam product family.

To discuss this transaction, other potential add-on acquisitions or other new investment opportunities, please contact John Ackerman, jackerman@cardinalep.com or Pete Munson, pmunson@cardinalep.com.

About Cardinal Equity Partners, LLCCardinal Equity Partners is an Indianapolis based private equity firm that has been investing in profitable companies in the lower middle market across a wide variety of industries for 25 years.

Westfield, IN (September, 2017)   Cardinal Equity Partners has completed the recapitalization of Wild Sports; the leading manufacturer and provider of licensed and branded tailgating, home-gating and outdoor games. Wild Sports holds licenses for the NFL, NHL, MLB, CLC, major independent colleges and others. The company was founded in 2004 and has offices in Westfield, IN and Charlotte, NC. Cardinal partnered with Centerfield Capital Partners, Expedition Capital Partners and members of the management team in the transaction. www.wildsports.com

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that has been investing in profitable companies in the lower middle market across a wide variety of industries for 25 years.

Indianapolis, In (June 19, 2017)  New Aqua LLC, D/B/A Aqua Systems, one of the largest independent providers of water purification and softening equipment in the U.S., announced that it has recently acquired the water operations of National Salt Distributors, Inc. which has locations in Bellefontaine, Ohio and Marysville, Ohio. With these additions, Aqua Systems now operates 5 locations in the Columbus Ohio market area and supplies 30 other Aqua System store locations in the U.S. In addition, Aqua Systems is a supplier to hundreds of other quality independent water dealers across the country. Aqua Systems, owned by the principals of Cardinal Equity Partners since 1997, is the largest independent provider of water conditioning equipment and bottled water in the eastern half of the United States.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Muncie, In (February 7, 2017)   Eagle Battery today announced that it has been acquired by an entity created by Cardinal Equity Partners and other individual investors. Founded in 2002, the company has provided battery reconditioning services to customers throughout the Midwest and is now expanding nationally. Joining Cardinal in the acquisition was Tom Snyder who will serve as Chairman and Rick Stanley, CEO, both of whom have extensive experience in the automobile aftermarket industry.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Atlanta, GA (February 3, 2017)   Guardian Pharmacy, the nation’s third largest institutional pharmacy serving patients in skilled nursing and assisted living homes, announced today the acquisition of Pharmacy Concepts in Arlington, TX. Melissa Deas, RPh, who joined Guardian in late 2016 will serve as President of Guardian Pharmacy of Dallas-Ft Worth, the renamed brand of Pharmacy Concepts. Guardian Pharmacy was established by the principals of Cardinal Equity Partners with another Indianapolis investment group in 2003. Today, the company offers prescription services to patients in over 15 states.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Indianapolis, In (March 4, 2016) Cardinal Equity Partners, Inc. (“Cardinal”) is pleased to announce that on March 4th, 2016 it closed on the sale of Corporate Imaging Concepts, LLC. (“CIC”).  CIC is a leading, technology enabled, provider of branded promotional products and online company store portals.  Corporate Imaging Concepts had been a portfolio company of Cardinal since 2013.

The buyer, in partnership with management, is a middle-market private equity firm based in New York.

Brian Abrams, CEO of CIC stated, “Our acquisition by Cardinal allowed me to bring my company to the next level.  I personally achieved the height of my career with the support of true collaborators who respected the essence of my business, were at my side whenever I needed, and treated me like family. The ultimate exit yielded a return far beyond any expectation or projection.  I am grateful to have had Cardinal on my team and to have chosen them as my partners.”

“Corporate Imaging Concepts has been an industry leader in the promotional products industry using a proprietary technology platform while maintaining an entrepreneurial culture” said Pete Munson, Cardinal Managing Partner and former Chairman of the CIC Board. “Cardinal has been very pleased to have partnered with the team at CIC, who have established a strong culture of customer focused growth and employee satisfaction.”

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Indianapolis, In (April 5, 2016) Cardinal Equity Partners (CEP) successfully exited its investment in Williams Sound, selling the global designer and manufacturer of wireless communication technology, to Graycliff Partners.

Graycliff Partners is an independent investment firm that focuses on middle market private equity and mezzanine investments.

Since partnering with the management team in a recapitalization in 2011, CEP worked with Williams Sound to rejuvenate the company’s product line, increase sales and marketing activities, expand distribution, and further enhance its’ position as a leader in listening communication devices worldwide. 

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Twinsburg, Oh (April 15, 2016)  Essco, the nation’s leading distributor of floor care products is pleased to announce that Rob Glockner has joined the company as Chief Executive Officer.  Rob has extensive experience growing multi location distribution businesses.  Before joining Essco, Rob served for 16 years as the Chief Operating and Chief Executive Officer of BFG Supply, a leading distributor of horticultural products to the professional greenhouse and landscaping industries.   Rob has replaced Tom Bianco who has left the company to pursue personal interests.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Indianapolis, IN (July 11, 2016) Cardinal Equity Partners, Inc. (“Cardinal”) is pleased to announce that on July 11^th, 2016, Contour Industries, Inc. (“Contour”) has hired Kristen Bacon as its new Chief Financial Officer.  Mrs. Bacon brings not only a strong financial background but also extensive experience in operations.  We are excited to add her to the executive team at Contour.

Contour is a leading fabricator of glass parts for the appliance, building products, and medical industries.  Contour has been a portfolio company of Cardinal since 2011.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Oakdale, Minn., (September 15, 2016) Motion Tech Automation, LLC (MTA), a leader in motion control technology and manufacturing, is pleased to announce the hiring of Steve Sowada as Director of New Business Development and Eric Donaldson as V.P. of Product Development and Technology.

“MTA is excited to add two individuals of the caliber of Steve and Eric to our team” said Fred Sutter, President and CEO of MTA.  “Steve is an accomplished executive with 30+ successful years of business development experience in various industries and has a proven track record of driving sales growth and developing new business at major multi-national clients including 3M, Dentsply, Datacard, Alliant Technologies, British Aerospace, Ford, Trane, International Harvester, New Holland and Danaher.  Eric is a named inventor on 13 US patents and brings over 20 years of experience to MTA, having led several multi-disciplinary Research and Development and Manufacturing Engineering organizations.  Eric’s broad based leadership skills and his extensive product development experience will be a tremendous asset for our company.”

MTA is well regarded for its unique ability to provide highly differentiated motion control and sensor technology, precision machining, and electro-mechanical assembly all under one roof to help customers simplify their supply chains.

MTA is an ISO9001:2008-certified company, with clients from many industries, including medical, packaging, semi-conductor, machine tool, military, special machinery builders, factory automation equipment, printing and converting.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Twinsburg, Oh (September 27, 2016)  Essco, the nation’s leading distributor of floor care products is pleased to announce that it has been appointed the exclusive seller of original Dyson equipment to the independent vacuum dealer channel.  This new arrangement supplements the parts distribution agreement that has been in place since the fall of 2013.  Under this agreement, all orders from this channel of distribution previously fulfilled by Dyson will now be served by Essco effective October 19, 2016.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Atlanta, GA (April 13, 2016)  Guardian Pharmacy, the nation’s third largest institutional pharmacy serving patients in skilled nursing and assisted living homes, announced today that Ron’s Pharmacy Services, located in San Diego,  California,  has joined the Guardian family.  Ron’s, established in 1981, serves more than 12,000 patients in southern California.  Ron Belville, founder, will continue to serve as President of this pharmacy.  Bob Smith, a well-respected industry veteran, will join Ron’s as a partner in the pharmacy and will serve as COO.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Atlanta, GA (August 2, 2016)  Guardian Pharmacy, the third largest institutional pharmacy serving patients in skilled nursing and assisted living homes, announced that the company has partnered with Uvanta Pharmacy of Southern Missouri.  Michael Counts, co-founder of Uvanta, will continue to serve and operate this pharmacy under the new name, Guardian Pharmacy of Missouri.  With the addition of Uvanta, Guardian now serves over 80,000 patients across its network of locations.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Oakdale, MN (October 1, 2015)  Motion Tech Automation (MTA), a leader in motion control technology and manufacturing, is pleased to announce the acquisition of Lion Precision, a Shoreview, Minn. based nano-position sensor company.

“MTA is excited about the acquisition of Lion Precision.  Lion Precision is a world leader in nano-position sensor technology, and this acquisition will enhance MTA’s portfolio with a highly differentiated technology and brand.   The Lion Precision business compliments our engineering, motion control technology and manufacturing platforms as well as expands our business into a number of new markets,” said Fred Sutter, President and CEO of MTA.

MTA is well regarded for its unique ability to provide highly differentiated motion control technology, precision machining, and electro-mechanical assembly all under one roof to help customers simplify their supply chains. The acquisition of Lion Precision enhances its position sensing capabilities and markets served. MTA will also provide Lion Precision manufacturing capabilities and resources to help Lion Precision expand its business globally.

Founded in 1987, Motion Tech Automation (MTA) began as a manufacturers’ representative firm concentrating on the industrial motion control industry. Since then, MTA has expanded to include a wide range of value-added services and additional products while maintaining focus on the motion control industry. MTA is an ISO9001:2008-certified company, with clients from many industries, including medical, packaging, semi-conductor, machine tool, military, special machinery builders, factory automation equipment, printing and converting.

Click here to view and download the press release.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Eden Prairie, Mn (June 11, 2015)  Williams Sound, a global designer and manufacturer of wireless communication technology and a portfolio company of Cardinal Equity Partners, is pleased to introduce a revolutionary new product called The Hearing Hotspot.  This innovative new listening technology allows any venue the ability to stream audio via Wi-Fi from TV’s, music sources or live programs directly to an individual’s smartphone or tablet.  To listen, an individual simply connects to the local Wi-Fi, downloads the free Hearing Hotspot app, and selects the audio channel they want to hear.  This new technology will be introduced at InfoComm, the Audio-Visual industry’s largest tradeshow.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Atlanta, GA (October 13, 2015)  Guardian Pharmacy, one of the nation’s leading institutional pharmacy’s serving patients in skilled nursing and assisted living homes, announced today the acquisition of Boomer Rx Solutions, located in Eufaula, Ok.  Founded in 2011, Boomer Solutions serves more than 2000 patients in long-term care communities.   Kyle Simmons and Tanner Corsini, founders, will serve as co-Presidents of Boomer Solutions which will operate as a subsidiary of Guardian.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Syracuse, In (September 15, 2015)  PolyWood, Inc. today announced that it has been recapitalized by Cardinal Equity Partners, an entity controlled by Oxford Financial Ltd., and it’s management team.   PolyWood is a manufacturer of high quality outside furniture made entirely from recycled plastic products such as milk jugs.  The company distributes its products through patio furniture retailers and  ecommerce sites of some of the country’s largest mass merchandisers.  Significant investment into capacity building production and vertical integration technologies will occur to allow the company to maintain its double-digit growth rates.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Eden Prairie, Mn (January 13, 2014)  Williams Sound, a global designer and manufacturer of wireless communication technology and a portfolio company of Cardinal Equity Partners, is pleased to announce the addition of Tony Braun who joins the company as Vice President of U.S. Sales.  Braun brings 20-plus years of sales and sales management experience in the audio-visual marketplace.  Prior to joining Williams Sound, Braun served as Vice President ,Central Region Sales, for Einstruction, a leading global education technology company, headquartered in Scottsdale, Ariz.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Twinsburg, Oh (January 3, 2014)  Essco,  the nation’s leading distributor of floor care products and a portfolio company of Cardinal Equity Partners, is pleased to announce it has been appointed the exclusive seller of Dyson replacement parts to the independent vacuum dealer channel.  Essco , replacing Dyson’s direct sales model, will supply all of Dyson’s current warranty and authorized parts dealers with authentic Dyson parts.  Dyson is a leading manufacturer of vacuum and floor care products in the U.S.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Brian Abrams, CIC founder and CEO, remains a significant shareholder and will continue in his role as the Company looks to accelerate its impressive growth trend.  According to Mr. Abrams, the decision to partner with Cardinal was based on Cardinal’s ability to provide the level of strategic direction consistent with CIC’s aggressive growth plans. Trust was also a key component, “Seventeen years ago, my wife and I launched the business from a windowless office with a desk and a phone. Capabilities as well as compatibility in a new long-term relationship were important considerations for us in finding the right partner. Cardinal clearly stood out from their peers in these categories.”

“We are excited to partner with Brian to help take CIC to the next level of growth and continue to exploit the technology advantage the Company enjoys over its competitors.  With a highly fragmented and entrepreneur-dominated industry, we are confident that our platform can be successful in acquiring competitors and recruiting highly driven sales people.” according to Pete Munson, Managing Director of Cardinal Equity Partners.

Cardinal is pleased to partner with Star Financial and Aldine Capital to complete this transaction and appreciates the creativity and support displayed during the due diligence process.

Click here to view and download the press release.

Alpha Water was acquired December 31, 2012 and will be integrated into Aqua Systems existing operations in Indiana.  With the addition of Alpha’s stores, Aqua Systems will supply over 25 stores that operate under the Aqua brand name.  In addition, Aqua Systems is a supplier to hundreds of other quality independent water dealers across the U.S.

Aqua Systems, owned by the principals of Cardinal Equity Partners since 1997, is the largest independent provider of water conditioning equipment and bottled water in the eastern half of the United States.  With numerous company owned and licensed retail stores coupled with strong wholesale and commercial divisions, the company has a brand name that signifies quality equipment and superior customer service while delivering great value.

Click here to view and download the press release.

About Cardinal Equity Partners, LLC Cardinal Equity Partners is an Indianapolis based private equity firm that invests in profitable companies across a wide variety of industries.

Buckeye operates from two facilities in Atlanta, GA and Portland, OR, and distributes floor care products to independent retailers, specialty floor care internet retailers, and specialty distributors across the United States.  Buckeye was owned and operated by Kenard G. Strauss, who will assist ESSCO management with the integration of Buckeye operations.

“We were very excited to be able to reach an agreement to acquire Buckeye.  Their warehouse configuration and vendor line-up complements ESSCO’s business model extremely well and when integrated, will allow us to provide unsurpassed service levels in the industry,” according to John Ackerman, Managing Director of Cardinal Equity Partners.

ESSCO, recapitalized by Cardinal Equity Partners and LDI Ltd., LLC in March 2012, is the industry’s largest distributor of floor care products to independent retailers and specialty floor care internet retailers across the U.S.  The Buckeye acquisition builds upon CEP’s initial strategy to pursue add-on acquisitions to bolster its nationwide distribution network, broaden its product offering, and further expand upon its leading market share.  The acquisition further solidifies ESSCO’s position as the industry’s largest distributor.

Click here to view and download the press release.

About Cardinal Equity Partners Cardinal Equity Partners is a leading private investment firm located in Indianapolis, IN.  CEP has been investing in businesses in the lower end of the middle market since 1993 and is currently investing through its $50 million fund established in 2008.  The firm focuses on profitable businesses with revenue of $5 to $50 million and EBITDA of $1 to $5 million.  Industries of interest are business and healthcare services, niche-manufacturing, value-added distribution, and consumer products.  Investors in the fund are predominantly individuals that have had success throughout their careers and have the desire to assist with growth initiatives and oversight in portfolio businesses.  For more information about our firm and the rest of our holdings, please visit our website, www.cardinalep.com.

Based in Twinsburg, Ohio and founded in 1924, ESSCO distributes floor care products to independent dealers and specialty floor care internet retailers across the U.S.  With four distribution facilities nationwide, ESSCO is the industry’s largest distributor, offering over 12,000 SKU’s.

MCM Capital Partners, LP, a Cleveland based private equity firm, was the majority selling shareholder and sought liquidity on its investment after acquiring ESSCO in 2005.

“ESSCO’s leadership position within the specialty vacuum channel coupled with its growing consumer fulfillment capabilities and relationships with some of our nation’s largest specialty retailers attracted Cardinal to this investment opportunity.  MCM Capital and the management team have done an extraordinary job of positioning ESSCO for future growth and we are very excited to step in to help keep the momentum going,” according to John Ackerman, Managing Director of Cardinal Equity Partners.

Moving forward, incumbent management will remain with ESSCO and will work alongside CEP and LDI to pursue a number of identified growth opportunities.  CEP, LDI, and senior management will also pursue add-on acquisitions to bolster its nationwide distribution network, broaden its product offering, and further expand upon its leading market share.

About Cardinal Equity Partners Cardinal Equity Partners is a leading private investment firm located in Indianapolis, IN.  CEP has been investing in businesses in the lower end of the middle market since 1993 and is currently investing through its $50 million fund established in 2008.  The firm focuses on profitable businesses with revenue of $5 to $50 million and EBITDA of $1 to $5 million.  Industries of interest are business and healthcare services, niche-manufacturing, value-added distribution, and consumer products.  Investors in the fund are predominantly individuals that have had success throughout their careers and have the desire to assist with growth initiatives and oversight in portfolio businesses.  ESSCO represents the seventh investment of CEP’s most recent fund.  For more information about our firm and the rest of our holdings, please visit our website, www.cardinalep.com.

Based in Cincinnati, Ohio, United Pet Group, Inc. is a subsidiary of Spectrum Brands Holdings, Inc., and is the leading manufacturer of consumer products for the pet supply markets globally.

CEP assisted with the September 2008 recapitalization of FURminator along with Hammond, Kennedy, Whitney & Co. an Indianapolis, IN based private equity firm.  The firms were attracted to the company by its market leading portfolio of patented pet care products.  Over the course of the investment, FURminator successfully defended its patents against a number of infringements, expanded the product line and brand positioning, and gained distribution allowing the company to further cement its position as the world leader in pet deshedding products.

Angie’s List is an Indianapolis-based provider of consumer reviews on local contractors and doctors in more than 550 service categories.  More than one million paying households in the United States rely upon Angie’s List to help them make the best hiring decisions. Members get unlimited access to local ratings via Internet or phone, exclusive discounts, the Angie’s List Magazine and help from the Angie’s List complaint resolution service.

Southern Pharmacy Services operates locations in Pink Hill and Kernersville, N.C. and serves almost 300 skilled nursing and assisted-living facilities.  Southern’s management rolled-over a significant portion of their proceeds from the sale and remain owners of this pharmacy business. Guardian Pharmacy, LLC. is the nation’s third largest institutional pharmacy.  Founded in 2004, Guardian Pharmacy is capitalized by the company’s management team, Cardinal and Bindley Capital Partners. The management team has extensive experience and success in high-growth, multiple-location specialty pharmacies.

Jim Smeltzer, Managing Director of Cardinal Equity Fund, said “We are thrilled to have the opportunity to invest in Contour. Keener Mallicote, the rest of his management team, and all the other employees of Contour have created an outstanding company and we are pleased to help position the Company for its next phase of growth. We look forward building on their past success and being a vibrant part of the greater Kingsport business community. Contour has a reputation for being an outstanding corporate citizen and an employer of choice, and we intend to continue that legacy in the community and for a growing employee base.

Click here to view and download the press release.

Paul Ingebrigtsen, President & CEO of Williams Sound said, “We are excited to partner with Cardinal Equity to achieve our shared vision of accelerating growth in our core business and to pursue new growth opportunities. We were attracted to Cardinal Equity partners because of their approach to long term growth strategies, and a close cultural and philosophical fit. Cardinal brings management and financial depth to the table, along with a proven track record of growth and stability.”

“The recapitalization facilitates the liquidity needs of former shareholders and will allow us to capitalize on significant growth opportunities the management team has identified,” said John Ackerman, Principal Partner of Cardinal Equity. “We were attracted to Williams Sound because of its proven success in the market, an excellent management team who remain with the business and retain significant ownership of the company, and the exciting growth prospects we see for the company.”

Williams Sound designs and manufactures wireless listening systems for group and personal hearing assistance, guided tours, and language interpretation, offering FM, Infrared, Digital, and Loop technologies. The company is based in Eden Prairie, MN and has a network of valued Distribution and Representative partners throughout out the world.

Click here to view and download the press release.

The Water Store of Columbus, Ohio was acquired in December, 2010 and will be integrated into Aqua Systems existing operations in Ohio. The Water Store is a retailer of both water conditioning systems and bottled water for home and office consumption.

Mountain Valley Water of St. Louis was acquired in January, 2011 and will be integrated into Aqua Systems existing operations in western Illinois and Missouri. Mountain Valley Water provides premium water to retailers and employs a direct to home/office delivery system throughout the metropolitan St. Louis area.

Aqua Systems, owned by the principals of Cardinal Equity Partners since 1997, is the largest independent provider of water conditioning equipment and bottled water in the eastern half of the United States. With numerous company owned and licensed retail stores coupled with strong wholesale and commercial divisions, the company has a brand name that signifies quality equipment and superior customer service while delivering great value.

Click here to view and download the press release.