September 2, 2019
CID Capital is proud to announce that it has partnered with Seaga Manufacturing. Headquartered in Freeport, Illinois, Seaga is a leading manufacturer of intelligent food/beverage and industrial vending equipment sold across multiple end markets.
CID worked closely with Seaga’s founder, Steve Chesney, to achieve his goals. Steve commented, “CID’s unique approach coupled with its high-quality resources in its offering tipped the scale in my selection of a strategic partner to facilitate Seaga’s many growth opportunities within our industry.”
Steve will continue to lead Seaga and is excited about the Company’s future.
“Seaga’s approach to engineering and customer service combined with a broad product mix and an excellent reputation made this an ideal investment for CID,” stated Eric Bruun, Managing Director at CID Capital. “We are enthusiastic about our newly formed partnership with Steve Chesney and the entire Seaga team.” In support of the recapitalization, Stifel Bank & Trust provided the senior financing and ORIX provided the subordinated debt financing. Dinan Capital Advisors served as the exclusive financial adviser to Seaga.
Contact our Team Members advising in this transaction:
Dinan & Company, LLC is the partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions.