SOURCE: Cotton Creek Capital

Cotton Creek Capital

November 03, 2014 12:00 ET

Cotton Creek Capital Partners With Coal City Cob Company

DALLAS, TX--(Marketwired - Nov 3, 2014) - Cotton Creek Capital ("Cotton Creek") is pleased to announce the recapitalization of Waxahachie, Texas-based Coal City Cob Company, Inc. ("Coal City Cob" or the "Company") in partnership with the Cloonen family and management of the Company. Founded in 1970 in Coal City, Illinois, Coal City Cob is a second generation, family-owned business providing liquid bulk transportation services to the chemical and hazardous waste industries. Coal City Cob operates a nationwide network of terminals, including a centrally located 27-acre facility in Waxahachie integrating rail-to-truck bulk transfer, fleet maintenance, and tank wash. Coal City Cob's national reach and customer-focused approach has resulted in a loyal customer base of major chemical manufacturers, distributors, and specialty chemical companies that represent some of the most respected names in their respective industries. 

Coal City Cob will continue to be led by Michael Cloonen and Randy Wasson, and the Cloonen family will remain significant shareholders in the Company. DFW Tank Cleaning, Coal City Cob's affiliated tank washing operation, was also included in the recapitalization.

"The consummation of our partnership with Cotton Creek represents a significant opportunity for our customers and employees as we combine the capabilities of Coal City Cob with the experience and resources of our new financial partner," commented Mike Cloonen, Chief Executive Officer of Coal City Cob.

"We have had a relationship with Coal City Cob for many years as a strategic provider of transportation services for our businesses," commented Cotton Creek Managing Director, Antonio J. DiGesualdo. "Over this period, Coal City Cob's customer service and reliability have been unparalleled. We are honored to partner with the Cloonen family and the management team at Coal City Cob and we are committed to upholding the customer-focused operating philosophy of Coal City Cob that was instituted by Mike and his management team." 

The investment in Coal City Cob is being made through Cotton Creek Capital Partners II, L.P., Cotton Creek's second standalone private equity fund, and represents a continuation of its investment strategy of partnering with privately-held lower, middle-market businesses in the Southern United States. 

About Coal City Cob

Coal City Cob was founded in 1970 as a provider of specialized liquid bulk freight services to the industrial chemical and hazardous waste industries. Coal City Cob has been built on the philosophy of consistently exceeding its customers' expectations. This facility includes developing an environmentally engineered, centrally located complex providing spill containment with all 27 acres of the site under concrete pavement. This facility, coupled with additional regional terminals located across the country, provides Coal City Cob with national reach and makes it an employer of choice. For more information, visit Coal City Cob's website at www.cccob.com.

About Cotton Creek Capital

Cotton Creek Capital is a Texas-based private equity firm focused on investing in and growing established lower middle market companies in manufacturing, value-added distribution, industrial, specialty chemical, business services, healthcare services and consumer staples. The firm invests in companies with enterprise values between $15 million and $200 million through transactions ranging from buyouts, recapitalizations, buy-and-builds, and corporate divestitures. Cotton Creek Capital has offices in Dallas, Fort Worth, and Austin and is affiliated with Brownlie & Braden, LLC, a provider of financial advisory services to high net worth families for over 20 years. For further information, visit Cotton Creek's website at www.cottoncreekcapital.com.