Kian Capital Partners has acquired The Eastwood Company, an ecommerce provider of aftermarket automotive tools and equipment. No financial terms were disclosed. Brown Gibbons Lang & Company was financial adviser to Eastwood on the deal.
CHICAGO, May 14, 2019 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the acquisition of The Eastwood Company (Eastwood), by Kian Capital Partners. BGL’s Consumer Group served as the exclusive financial advisor to Eastwood in the process. The specific terms of the transaction were not disclosed.
The transaction builds upon BGL’s market leadership position in advising eCommerce and branded consumer products companies. Eastwood represents the third eCommerce transaction for BGL’s Consumer Group in the last eight months.
Eastwood, an independent, founder-owned company, is a leading eCommerce provider of aftermarket automotive tools and equipment. Home to the Eastwood™, Rockwood™, Maxx Power™, Fairmount Tools™, and Hot Coat™ brands, Eastwood has catered to the enthusiast and small mechanic markets by offering affordable, commercial-grade solutions for over 40 years. Built from the ground up since 1978, Eastwood has transformed from a catalog business to a leading eCommerce platform that is well-positioned for topline growth and EBITDA margin improvement over the next several years.
Brian Huck, CEO of Eastwood, commented: “BGL’s ability to understand the characteristics of our business which drive true differentiation allowed us to find a fantastic partner (Kian Capital) for the next phase of Eastwood’s growth. They were able to utilize our key business metrics to develop a financial model and marketing narrative which allowed the buyer universe to better understand both the value, and the opportunity present in Eastwood. This gave all parties a “common language” to use in discussing the significant growth opportunities available in the business. The result was a strong deal and positive outcome for everyone.”
Kian Capital Partners is a leading relationship-oriented private investment firm that provides transformative capital solutions to established lower middle-market companies. With offices in Charlotte and Atlanta, Kian Capital specializes in providing flexible capital solutions to business owners, management teams, and small to mid-sized companies, often serving as the first institutional capital provider.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, divestitures, capital markets, financial restructurings, valuations and opinions, real estate, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Atlanta, Chicago, Cleveland, Denver, San Antonio, and San Diego. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world. For more information, please visit https://www.bglco.com.