LFM Capital Announces New Investment in Attachment Manufacturer: CID Attachments
NNASHVILLE, TN – September 21, 2022 – LFM Capital (“LFM”), a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today its investment in Construction Implements Depot, LLC (“CID Attachments” or “CID”). Terms of the transaction were not disclosed.
CID Attachments is a leading manufacturer of attachments for use with skid steers, compact track loaders, compact tractors, and mini-excavators. Based in Denton, NC, CID’s products are sold through distributors, dealers, private label, and OEM arrangements throughout North America. CID’s broad based product line is used in a variety of applications, targeting landscaping, light construction, rural lifestyle, and more.
CID is LFM Capital’s second acquisition of an equipment manufacturer within the diversified attachments industry. In November 2021, LFM acquired IronCraft, an east Tennessee manufacturer of 3-point tractor attachments and skid steer attachments. Both IronCraft and CID will continue to serve their respective customer bases, while leveraging collective resources across product development, production, and distribution.
CID General Manager Jon Williams stated, “CID has experienced tremendous growth since I joined the company in 2014, and we see additional growth opportunities in the future. We are excited to align ourselves with another fast-growing manufacturer like IronCraft.”
IronCraft CEO Pat Kozlowski stated, “IronCraft’s beginnings were rooted in 3-point tractor attachments, while CID’s expertise lies in construction attachments. By leveraging the strengths of each organization, we believe that we will enhance our value proposition to existing and future customers of IronCraft and CID.”
LFM Operating Partner Ken Hoefling commented, “LFM is excited to partner with IronCraft and CID. We’ve been impressed with how each organization has grown its role within the diversified attachments industry and look forward to supporting their continued success.”
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About CID Attachments
Construction Implements Depot, LLC, was founded in 2003 and is based in Denton, North Carolina. CID specializes in manufacturing high-quality skid steer attachments, compact track loader attachments, compact tractor attachments, and mini-excavator attachments used primarily in residential construction, landscaping, agriculture, and for personal home use. For more information, please visit www.cidattachments.com.
About IronCraft
IronCraft, LLC, founded in 2014 under the Titan Implement brand by the Turner family, is a leading manufacturer of 3-point tractor attachments and skid steer attachments catering to a variety of applications such as agriculture, landscaping, light construction, and more. Based in east Tennessee, IronCraft offers an extensive range of rotary cutters, rotary tillers, box blade scrapers, grader blades, landscape rakes, disc harrows, and skid steer attachments. For more information, please visit www.ironcraftco.com.