By Generational EquityJan 6, 2015, 04:00 et
Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, Iden's Detailing, Inc., headquartered in Tukwila, Washington, by Pacific Northwest Capital Group, headquartered in Seattle, Washington. The acquisition closed on November 29, 2013.
Iden's Detailing, Inc. (Iden's), is a full-service auto reconditioning and cosmetic services business. Services include, but are not limited to, car detailing, vinyl vehicle wraps, window tinting, paint protection films, dent repair, paint touch up, and outside vendor management.
By utilizing Iden's exclusive online scheduling system, as well as its industry-leading documented systems and procedures, dealerships maximize the profitability of their one-stop shopping reconditioning services.
The Company is ideally positioned for long-term growth as more and more dealerships are interested in having their reconditioning and cosmetics services completed professionally and managed onsite, freeing their employees to focus on vehicle sales and service.
Managing Directors Stephen Crisham and Lori Galloway, along with their affiliates Diana Altchech and Steve Spencer, led the Generational Equity deal team that advised Iden's on the transaction.
"Iden's broke the code and became a true disrupter in the automotive dealership industry," stated Steve Spencer.
"Pacific Northwest Capital Group quickly recognized the opportunity to partner with the existing management team to build on the company's proven and scalable business formula to immediately expand regionally and eventually to a national customer base."
"We are excited about the complementary fit between these two organizations and truly expect a very successful future as they move forward together."
Pacific Northwest Capital Group is a venture capital firm and a registered SBIC. It invests in early to expansion-stage companies in the software, electronics, specialty retailing and healthcare sectors.
The firm invests in about three companies a year, providing from $2 million to $8 million per transaction. It also prefers to be the lead investor, but for larger deals, they will co-invest with other venture capital firms and/or their institutional limited partners.
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