CIC Partners has teamed up with Randy Cimorelli to invest in the food ingredients, flavors and specialty manufacturing sectors. Cimorelli is a former CEO of Mac & Massey.
Dallas, TX – May 2, 2017 – CIC Partners, a leading middle market private equity firm, announced today that it has formed a partnership with Randy Cimorelli, the former CEO of Mac & Massey, to pursue a platform company investment in the food ingredients, flavors and specialty manufacturing sectors.
Mr. Cimorelli is a 25 year veteran of the industrial ingredient and food manufacturing space with extensive knowledge of the private equity landscape from an operator, owner and entrepreneur perspective. Randy joined Massey Fair & Mac Source in 1990 and expanded it commercially into the Southwest, which led to the acquisition of IFS in 1995. He was appointed President/COO in 2000 and successfully recapitalized the company in 2007. As President/CEO of the newly formed company, Mac & Massey Holdings, Randy led an expansion through organic and acquisition growth.
Randy was responsible for the acquisition of Mulligan Sales, Inc. in 2010, which successfully expanded the company’s reach across the US with major distribution centers in Atlanta, Dallas and Los Angeles. In late 2011, Randy orchestrated the sale of the company to Batory Foods, Inc. where he remained for over three years as division president and SVP.
“It is a privilege to partner with CIC. I look forward to contributing my experience to their model of partnering with leading companies across the food industry,” said Cimorelli. “Our goal is to partner with companies in the food ingredients sector, specifically flavors, specialty manufacturing and distribution/logistics, providing not only capital resources but also leadership on key growth initiatives to drive the business.”
CIC has significant expertise within the food manufacturing industry serving the retail, foodservice, and restaurant industries. Its investment platform focuses on the entire food supply chain and includes investments in agriculture, food manufacturing and processing, consumer packaged goods, distribution and restaurants. CIC has developed deep relationships with major foodservice restaurant customers and management teams through its existing portfolio company experience in conjunction with its team of Operating Partners. CIC’s approach and relationships allow it to focus on building a customer-centric business model to better analyze and serve customers’ needs.
“We are excited to work with Randy and leverage his long-term customer relationships as we partner with existing owner-operators to help grow their business,” said Amir Yoffe, Partner with CIC Partners. “His expertise and knowledge of ingredients, distribution and industrial customers combined with CIC’s foodservice and contract manufacturing background present exciting revenue and growth opportunities as we pursue a platform investment in this industry.”
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit www.cicpartners.com.