Chef’n Receives Investment to Promote Growth

30 January 2012

Meridian Capital LLC, a partner of Global M&A, is pleased to announce the successful recapitalization of Chef’n Corp. by Indianapolis-based CID Capital. Meridian served as Chef’n’s exclusive financial and strategic advisor on the transaction.

Founded in 1982, Chef’n has become a housewares leader by creating fun and innovative kitchen and food products. Headquartered in Seattle, WA, Chef’n boasts an award-winning in-house product design team and owns more than 250 innovative product patents worldwide. The company redesigns and reinvents utensils and gadgets that are often taken for granted. Chef’n makes better tools so consumers can make better food.

The partnership with CID gives Chef’n the capital and managerial resources to grow its core brands globally, as well as expand its private label business. Chef’n’s existing management team will continue to manage day-to-day operations and plans to add new resources to align with future growth initiatives.

“This deal will give us more resources to meet the growing demand for Chef’n products, not only domestically but worldwide,” said David Holcomb, CEO. “Meridian’s process allowed us to find a partner who not only had knowledge and expertise in our industry but also appreciated the Chef’n innovation and culture. CID’s experience in growing consumer product companies made them a perfect choice for my vision of the company.”

CID Capital is a leading middle-market private equity firm focused exclusively on acquiring controlling interests in lower-middle market companies. CID invests in businesses with strong management teams serving expanding niche markets.  Its focus is on companies that have the potential to grow significantly but have been constrained by lack of capital, operating systems, or management experience.

“We are extremely happy for the Chef’n shareholders, with whom we worked with on a variety initiatives for over eight years.” said Chuck Wilke, managing director at Meridian Capital, “With a track record of success in the branded housewares space, we believe CID is an ideal partner for the Chef’n team.”