Investment Focus – CMA concentrates on middle-market manufacturers of technically engineered products and distribution companies that possess solid fundamentals yet are under-performing relative to their utmost potential. Target company revenues will generally range between $20 million and $250 million.

Most of CMA’s opportunities will arise from the following situations:

  • Sale of Private Companies. Owners confronting estate-planning issues
  • Divestitures. Non-strategic subsidiaries or divisions of corporate parents
  • Distressed Situations. Underperforming companies requiring strategic redirection and/or financial restructuring
  • Going Private Transactions. Enabling owner/managers to capitalize on value not recognized by the public markets

Preferred target companies possess proprietary products, unique capabilities or technology that customers need and prefer. Attractive industries include:

  • Engineered plastics, molding and extrusion
  • Capital goods manufacturers
  • Outsourced industrial services
  • Metalworking/metal fabrication
  • Packaging and containers
  • Specialty chemicals and coatings
  • Electrical components
  • Material science technology suppliers

Investment Strategy – CMA has an operating orientation, sponsoring acquisitions where productivity improvement is a primary source of value creation. CMA works with management to develop plans for operational improvement and revenue growth and actively supports execution of chosen strategies. CMA will augment the portfolio management team by assessing the needs of the business and either: 1) fill the leadership role if vacant at time of closing and/or 2) fill a key operating management position where a hole in the management team exists and/or 3) lead the corporate development function which identifies and manages the transition/merger of add-on acquisitions to the base business.

Our Partners desire to build an attractive portfolio of autonomously managed businesses that continuously strive for better long-term operating performance. The equity appreciation resulting from improving performance is shared with CMA’s investors and portfolio company management teams.

For over 20 years, CMA has successfully acquired and managed mid-market manufacturers and ultimately, realized attractive returns, while holding true to its long term buy and hold investment strategy.