Heartwood Partners Secures a Successful Exit to CMI

NORWALK, Conn., Jan. 17, 2023 /PRNewswire/ — Heartwood Partners (www.heartwoodpartners.comWe are pleased to announce the following: December 21, 2022Heartwood Partners Fund II LP sold its investment in CMI Limited Co (“CMI”, the “Company”) and refinanced it.www.cmilc.com) in a sale to Charger Investment Partners (“Charger”).

CMI has grown to be a leader in the industry thanks to Heartwood Partners unique structure and investment approach.

CMI is an American-based designer and manufacturer that provides innovative solutions for shoreline access and preservation. The Company’s unique products are sheet piling and high impact decking. They also offer aluminum fabricated solutions that can be used in applications like seawalls, retaining structure, flood protection, chemical confinement, marinas docks, and water control. CMI is the leader in vinyl sheet piling and the top producer of it.

CMI was able to build a top-tier management group that successfully expanded the Company’s sales channels, product lines and brands. It also optimized its production facilities. CMI also acquired two add-on companies that expanded its geographic reach in aluminum fabrication and entered the high impact decking market. CMI’s headquarters are in Woodstock, Georgia Has manufacturing facilities in Georgia, Florida, Washington?, and Illinois.

CMI President & CEO, Doug ZachariasCommented : “The strength, stability and support of Heartwood Partners’ unique lower-debt structure as well as supportive investment approach allowed CMI to grow into an industry leader. Company’s position as a leader in the market is based on its success in quality, engineering and sustainability. We are delighted to be a partner with Charger for the next chapter of CMI’s growth story.

James SidwaHeartwood Partners’ Partner, David Platt, stated that “We are very proud” of CMI’s achievements over the past five years. It has been an honor to work with the management team and help with the Company’s development. We are excited to watch the business grow under Doug’s direction as CEO. Duane Bryant Continue serving on the CMI Board of Directors.”

Finn Dixon & Herling LLP served as legal advisor and Stifel served as an exclusive financial adviser to CMI and its investors.

Heartwood Partners (www.heartwoodpartners.com), located in Norwalk (Connecticut)Private equity firm based in the middle market, Heartwood was founded in 1982. Heartwood is differentiated by a unique lower-leverage, distribution-yielding approach to private equity designed to create equity partnerships with continuing management. Our current portfolio includes over $900 million. $1.7 billion In commitments and investments, and its principals have made over 100 platform and add-on acquisitions. Heartwood Partners Fund IV, LP is Heartwood’s current investment source. It focuses primarily on family-owned manufacturers, distributors of value, business service companies, and food, chemical, and consumer product companies.

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