Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home1/castleha/public_html/libraries/joomla/filter/input.php on line 660

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home1/castleha/public_html/libraries/joomla/filter/input.php on line 663
Castle Harlan - Castle Harlan - Search results http://www.castleharlan.com Thu, 28 Mar 2024 19:57:08 +0000 Joomla! - Open Source Content Management en-gb Castle Harlan Completes Sale of IDQ, Leading Manufacturer of Do-It-Yourself Automotive Aftermarket Air Conditioning Recharge Products http://www.castleharlan.com/news/item/161-castle-harlan-completes-sale-of-idq-leading-manufacturer-of-do-it-yourself-automotive-aftermarket-air-conditioning-recharge-products http://www.castleharlan.com/news/item/161-castle-harlan-completes-sale-of-idq-leading-manufacturer-of-do-it-yourself-automotive-aftermarket-air-conditioning-recharge-products

Castle Harlan, Inc., the New York private equity firm, announced today that Castle Harlan Partners V, L.P. (CHPV) has completed the sale of IDQ Acquisition Corp., the leading manufacturer of do-it-yourself automotive aftermarket air conditioning recharge products, to Kinderhook Industries, another private equity firm. The transaction price was not disclosed. The sale resulted in a 3.3X gross multiple on Castle Harlan’s original investment.

“Castle Harlan specializes in partnering with management teams to help them accelerate the growth of their businesses by adding capital and strategic guidance,” said Marcel Fournier, senior managing director of Castle Harlan. “Throughout our investment in IDQ, we helped the company through a number of important strategic and operational initiatives, including building consumer awareness of the category, launching a new product line and expanding the company internationally.”

“As a result, the company is well positioned to continue its ongoing and anticipated growth, and we were able to reward our investors with a very satisfactory return,” Fournier added.

IDQ products, such as air conditioning recharge and retrofit kits, premium refrigerant blends, specialty chemicals, straight refrigerants, and a wide range of complementary DIY and professional-use items, include brand names such as A/C PRO, Arctic Freeze®, Sub Zero® and Super Seal Stop Leak. These products are sold through approximately 25,000 retail stores, including leading national chains, such as AutoZone, Advance Auto Parts, Wal-Mart, O’Reilly, NAPA, Pep Boys, and others. IDQ also sells a full range of commercial air conditioning products designed for automotive repair shops.

Castle Harlan supported IDQ’s programs to build consumer awareness of the category, increase penetration of do-it-yourself in the air conditioning market, and convert consumers from commodity products to higher value-added offerings. Under Castle Harlan’s ownership, IDQ developed, tested and launched the A/C PRO product line and rolled out an extensive advertising and awareness campaign that included nationwide television and radio ads, various social media elements and interactive merchandising displays. These efforts were well received by customers and consumers, and the A/C PRO product line is emerging as a leading brand in the category.

“The Castle Harlan team worked closely with CEO Michael Klein, CFO Gerry Rooney and the entire management team,” said Heather L. Faust, vice president of Castle Harlan and a member of the IDQ Board of Directors during Castle Harlan’s ownership. “We know these executives well and have great confidence that under their leadership the company will continue to grow.”

Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle-market companies in North America and Europe. Its team of 19 investment professionals has completed 53 acquisitions since its inception with a total transaction value in excess of $11 billion. Castle Harlan has managed investment funds with equity commitments of approximately $3.5 billion. The firm traces its roots to the start of the institutionalized private-equity business in the late 1960s.

Castle Harlan's current portfolio of companies includes Shelf Drilling Holdings Ltd, a leading provider of shallow-water drilling services in Asia, Africa and the Middle East; Pretium Packaging LLC, one of the country’s leading manufacturers of custom-designed specialty plastic containers for the food, pharmaceutical, personal-care and household markets; Baker & Taylor, the world’s largest distributor of books and entertainment products to libraries and retailers; and Securus Technologies, a leading provider of secure inmate telecommunications for the corrections industry.

For more information, visit www.castleharlan.com.

]]>
websupport@netatwork.com (Super User) IDQ Holdings, Inc. Mon, 07 Jan 2013 00:00:00 +0000
Castle Harlan Completes Acquisition of Manufacturer of Branded Automotive Air Conditioning Aftermarket Products for $160 million http://www.castleharlan.com/news/item/162-castle-harlan-completes-acquisition-of-manufacturer-of-branded-automotive-air-conditioning-aftermarket-products-for-$160-million http://www.castleharlan.com/news/item/162-castle-harlan-completes-acquisition-of-manufacturer-of-branded-automotive-air-conditioning-aftermarket-products-for-$160-million

Castle Harlan, Inc., the New York private equity investment firm, announced today that an affiliate of Castle Harlan Partners V has completed the acquisition of IDQ Holdings, Inc., the industry leader in Do-it-Yourself (“DIY”), branded automotive aftermarket products for servicing and repairing automotive air conditioners. The total transaction is valued at approximately $160 million before working capital adjustments.

 

Castle Harlan said the company will continue to operate under the IDQ name. IDQ products, such as air conditioning recharge and retrofit kits, premium refrigerant blends, specialty chemicals, straight refrigerants, and a wide range of complementary DIY and professional-use items, include brand names such as Arctic Freeze®, Sub Zero® and Super Seal Stop Leak. These products are sold to consumers through a blue-chip customer base representing approximately 25,000 retail stores. These include leading national chains, such as AutoZone, Advance Auto Parts, Wal-Mart, O’Reilly, NAPA, Pep Boys, and others. The company also sells a full range of commercial air conditioning products designed for automotive repair shops.

 

IDQ was sold by Arsenal Capital Partners, a private equity firm based in New York. IDQ is headquartered in Garland, Texas and has offices in Tarrytown, New York. IDQ’s management will continue to operate the company and will be investing in the transaction alongside Castle Harlan Partners V.

 

IDQ CEO Michael Klein said, “We plan to build on our unparalleled breadth of product offerings and provide our customers, and the market in general, a focus on quality, service and value. We are delighted to be joining Castle Harlan, which has a long history of partnering with management teams to realize shareholder value through superior customer service.”

 

Marcel Fournier, the senior managing director who led the Castle Harlan team, said the acquisition “creates a partnership with a strong, experienced management team that has built the undisputed market leader in this sector of the aftermarket industry. We look forward to working closely with IDQ to help it continue to grow in the years ahead. We believe IDQ has tremendous potential for organic growth and is a strong base on which to add acquisitions of other valuable brands and products.”

 

The Valence Group acted as financial advisor to Castle Harlan in this transaction.

 

Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle-market companies in North America and Europe. Its team of 19 investment professionals has completed 50 acquisitions since its inception with a total value in excess of $9 billion. Castle Harlan currently manages investment funds with equity commitments of $2.5 billion. The firm traces its roots to the start of the institutionalized private-equity business in the late 1960s.

 

Castle Harlan's current portfolio companies, which employ more than 42,000 people, include Ames True Temper, the manufacturer of lawn and garden tools and accessories, Baker & Taylor, the world’s largest distributor of books and entertainment products to libraries and retailers, and Pretium Packaging LLC, one of the country’s leading manufacturers of custom-designed specialty plastic containers for the food, pharmaceutical, personal-care and household markets.

]]>
websupport@netatwork.com (Super User) IDQ Holdings, Inc. Mon, 21 Jun 2010 00:00:00 +0000
Castle Harlan Agrees to Acquire Manufacturer of Branded Automotive Air Conditioning Aftermarket Products http://www.castleharlan.com/news/item/163-castle-harlan-agrees-to-acquire-manufacturer-of-branded-automotive-air-conditioning-aftermarket-products http://www.castleharlan.com/news/item/163-castle-harlan-agrees-to-acquire-manufacturer-of-branded-automotive-air-conditioning-aftermarket-products

Castle Harlan, Inc., the New York private equity investment firm, announced today that an affiliate of Castle Harlan Partners V has signed a definitive agreement to acquire IDQ Holdings, Inc., the industry leader in Do-it-Yourself (“DIY”), branded automotive aftermarket products for servicing and repairing automotive air conditioners.

 

The transaction is expected to close in June and is subject to the satisfaction of various conditions.

 

Castle Harlan said the company will continue to operate under the IDQ name. IDQ products, such as air conditioning recharge and retrofit kits, premium refrigerant blends, specialty chemicals, straight refrigerants, and a wide range of complimentary DIY and professional use items, are sold  to consumers through a blue-chip customer base representing approximately 25,000 retail stores. These include leading national chains, such as AutoZone, Advance Auto Parts, Wal-Mart, O’Reilly, NAPA, Pep Boys, and others.  The company also sells a full range of commercial A/C products designed for automotive repair shops.

 

IDQ is being sold by Arsenal Capital Partners, a private equity firm based in New York.  IDQ is headquartered in Garland, Texas and has offices in Tarrytown, New York. IDQ’s management will continue to operate the company and will be investing in the transaction alongside Castle Harlan Partners V.

 

IDQ CEO Michael Klein said, “We welcome the opportunity to be a part of Castle Harlan’s team. The transaction will allow us to build on our already unparalleled breadth of product offerings and give our customers, and the market in general, a strong and shared cultural focus on quality, service and value.”

 

He also praised Castle Harlan’s “long history of partnering with management teams to realize shareholder value through superior customer service.”

 

Marcel Fournier, the senior managing director who led the Castle Harlan team, said the acquisition is “an opportunity to partner with a strong, experienced management team that has built the undisputed market leader in this sector of the aftermarket industry.”

 

Fournier added, “We at Castle Harlan look forward to working closely with IDQ to help it continue to grow in the years ahead. We are confident that IDQ has tremendous upside potential and could also be a strong base on which to add, through acquisitions, some other valuable brands and products.”

 

The Valence Group acted as financial advisor to Castle Harlan in this transaction.

 

Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle-market companies in North America and Europe. Its team of 19 investment professionals has completed 50 acquisitions since its inception with a total value in excess of $9 billion. Castle Harlan currently manages investment funds with equity commitments of $2.5 billion. The firm traces its roots to the start of the institutionalized private-equity business in the late 1960s.

 

Castle Harlan's current portfolio companies, which employ more than 42,000 people, include Ames True Temper, the manufacturer of lawn and garden tools and accessories, Baker & Taylor, the world’s largest distributor of books and entertainment products to libraries and retailers, and Pretium Packaging LLC, one of the country’s leading manufacturers of custom-designed specialty plastic containers for the food, pharmaceutical, personal-care and household markets.

]]>
websupport@netatwork.com (Super User) IDQ Holdings, Inc. Tue, 08 Jun 2010 00:00:00 +0000