Overview
Firm Description
CID Capital II, Inc., an Indiana corporation (“CID Capital,” the “Firm”, “the Adviser” or the
“Investment Manager”), is a private equity firm that invests in or directly acquires lower middle
market companies with operations in the United States. CID Capital’s investment strategy is
focused on a niche of high quality, profitable lower middle market companies, which generally
consists of firms having $3.0 to $10.0 million of EBITDA, that have growth potential and that can
be acquired at attractive prices because the sellers have multiple goals in the sale process and prefer
to sell their business outside the customary broad private equity auction process.
CID Capital filed its articles of incorporation in January 2007. CID Capital currently manages four
funds; the CID Capital Opportunity Fund II, L.P. (“Fund II”), the CID Capital Opportunity Fund
III, L.P. (“Fund III”), the CID Capital Opportunity Fund III-QP, LLC (“Fund III-QP”), the Propane
Partners SPV II, LLC, Propane Partners SPV I-A, LLC, and Propane Partners SPV-III (“SPVs”,
collectively “Funds”).
CID Capital generally invests in non-public companies through negotiated transactions, primarily
in change-of-control investments. CID Capital may also invest additional capital in existing
portfolio companies to complete
acquisitions or fund growth or expansion, and from time to time
it may make minority investments. CID Capital’s investment advisory services to the Fund consist
of identifying and evaluating investment opportunities, negotiating the terms of investments,
managing and monitoring investments, and ultimately selling such investments.
The SPVs invests solely in Lettermen Energy Holdings, LLC (“Lettermen”). Lettermen expects to
complete a minimum 6 - 12 acquisitions of propane businesses each with an estimated $1.5M of
EBITDA over five years.
Investment advice is provided directly to the Funds, and not individually to the investors., thus
investment advice is not tailored to the individual needs of each investor in the Funds. CID Capital
Opportunity Partners II, LLC is the general partner of Fund II. CID Capital Opportunity Partners
III, LLC is the general partner of Fund III and Fund III-QP. The general partners are umbrella
registrants under CID Capital’s SEC registration. CID also serves as the manager for the SPVs.
As of December 31, 2023, CID Capital had regulatory assets under management of approximately
$292,400,000 all of which is managed on a discretionary basis.
Principal Owners/Ownership Structure
CID Capital’s principal owners are Eric Bruun, Steve Cobb, Eric Derheimer, and Cory Heck.