Leading Snack Food Distributor Liberty Distribution Completes Sale to Vistar

(Chandler, AZ) In June 2012, Liberty Distribution completed its sale to Vistar, a division of Performance Food Group.  Founded in 1998 by Jim Schweikert, Liberty Distribution grew to become the leading snack food distributor to non-food retailers.  G. Kevin Fechtmeyer, Managing Partner of Cave Creek Capital, noted, “This was a tremendously successful investment due to the energy and teamwork of Liberty’s management which helped grow its revenues by nearly 400% since our investment in 2008.  This Transaction generated a return of 5.5 times our initial investment.

Patrick Hagerty, President and CEO of Vistar noted, “We have long admired Liberty, they pioneered the availability of candy and snacks to nonperishable retailers. This category is now common place in retail industries where it was virtually unknown just 15 years ago. We are excited to be adding the entrepreneurial spirit of Liberty’s management team and we are confident that they will be instrumental in helping Vistar meet its long term growth strategy.”

Cave Creek Capital Contact:
Jourdin Lambright, Marketing Associate
Phone: (480) 478-6960


Bastech Named One of 50 Fastest Growing Companies

Bastech, (Jacksonville, FL) a leading provider of chemical solutions to the paper, pulp and mining industries, was named as one of the 50 fastest growing companies by the Jacksonville Business Journal, as well as one of the top 10 fastest growing companies in total revenues in the region.  Bastech was ranked 6th in total revenue growth and 24th in percentage revenue growth, averaging over 54% annually over the last three years.

Read full story at the Jacksonville Business Journal 

Cave Creek Capital Contact:
Jourdin Lambright, Marketing Associate
Phone: (480) 478-6960


Bastech LLC Completes Refinancing with SunTrust Bank

Bastech LLC (Jacksonville, FL), a leading provider of performance chemical solutions to the paper/pulp and mining industries, completed a $14 million refinancing with SunTrust Bank.  The proceeds were used to repay its remaining senior and subordinated debt and to expand its credit facilities.  The senior term and revolver financing allowed Bastech to substantially lower its interest costs and provides ample funding for future working capital needs.

Bastech sales have grown more than 350% since the 2007 acquisition by Cave Creek Capital and Courtney Group and its financing needs have grown larger and more complex.  President, Bob Closs, noted, “SunTrust will be an excellent partner going forward as we continue to expand and service our client’s growing needs, particularly as our sourcing and sales grow outside of the United States”.

Cave Creek Capital Contact:
Jourdin Lambright, Marketing Associate
Phone: (480) 478-6960


Greenwich Associates Survey Ranks Integro Tops in Broker Client Loyalty

New York (January 25, 2012) – Insurance brokerage and risk management firm Integro, established in 2005 as an alternative to legacy brokers, has overtaken them in ‘lead broker’ client loyalty, according to results of Greenwich Associates’ annual industry survey.

Integro earns a perfect 100 score when clients are asked if they’d recommend the firm to peers – eleven points higher than the 89 average for the ‘Big-Three’ (Marsh, Aon and Willis Group).

“Integro wins strong loyalty recognition from clients, especially lead clients, all of whom would recommend Integro to a peer in the industry,” said David Fox, Greenwich Associates managing director. “Integro is more than up to the challenge of the tough market. The firm is demonstrating strong results as it builds its presence as measured by total clients and clients citing Integro as their lead or most important broker.”

Peter Garvey, Integro President and CEO, said, “We created Integro to fill a gap in the broker marketplace – a firm capable of competing with the very biggest companies on offerings designed to deliver our services in a personalized, customized manner. It is gratifying to be recognized by clients and to know that my colleagues are providing results worthy of such recognition.”

According to Greenwich Associates’ research, pace-setting performance in several categories boosted Integro’s standing, including:

  • Customer Satisfaction: Integro’s 100 score bests the ‘big-three’ average of 91 as lead broker;
  • Broker’s Ability to Understand Client’s Business Needs: At 95, a stellar showing for Integro and well above the ‘big-three’ average 81;
  • Broker’s Global Coordination and Management: Integro’s 100 dramatically outpaces the ‘big-three’ average client 70 rating;
  • Ease of Working with Brokerage: Integro’s 95 soared above the ‘big-three’ average 82;
  • Broker’s Ethical Standards: Integro’s 100 contrasts with the average ‘big-three’ 93 rating.

Integro also earns exceptionally high marks for Firm Transparency, Broker Innovation, Coordinating Claims Processing with Carriers, and Client Satisfaction with Visit Frequency, among others.

The Greenwich Associates survey, conducted in late 2011, covers insurance brokerage and carrier needs of U.S.-based companies with annual sales over $500 million. In-depth telephone interviews are conducted with senior professionals responsible for insurance and risk management. These professionals are asked to comment on the most important client service elements for each broker and carrier such as professional knowledge, execution, service, and underwriting. This analysis identifies the best corporate insurance carriers and brokers and highlights valuable information on the needs of risk management professionals.

Greenwich Associates is the premier strategic consulting and research source for providers and users of financial services worldwide.



About Integro
Integro is an insurance brokerage and risk management firm designed to serve organizations with complex risks. Repeatedly praised and awarded for dedicated client service, Integro’s industry-leading brokers operate from offices worldwide. Its headquarter office is located at 1 State Street Plaza, 9th Floor, New York, NY 10004. 1-877-688-8701. www.integrogroup.com

Editorial Contact:
Betsy Van Alstyne
Tel: 212-295-5445


Integro acquires Pleasant Hill’s Argo Insurance Brokers

San Francisco Business Times by Chris Rauber

Date: Wednesday, May 18, 2011, 11:06am PDT – Last Modified: Wednesday, May 18, 2011, 1:12pm PDT

Integro, a New York-based insurance brokerage and risk management firm with an outpost in San Francisco, said Wednesday it has acquired San Francisco’s Argo Insurance Brokers.

To read full article, click here.


Cave Creek Capital Sponsors Vistage All-City Event

Last Wednesday over 200 executives from around the state gathered at the Ritz Carlton in Phoenix for the state’s annual Vistage All-City Event.  Cave Creek Capital Management served as the Platinum Sponsor, giving all in attendance the opportunity to learn about the firm and how private equity can help them grow their businesses.  Throughout the day, executives had the opportunity to network with one other and gain insight from expert speakers.  Highlights included a session on “small talk” with Debra Fine and later a discourse by Keith McFarland on developing effective strategy.

Vistage International was founded in 1957 and has always had the same objective: to help executives make better decisions, achieve better results, and enhance their lives.  Still operating under those same principals, Vistage has grown to over 14,000 members in 16 countries, becoming one of the world’s leading chief executive organizations.  For more information on Vistage, please visit www.vistage.com

Cave Creek Capital Management is a private equity firm headquartered in Scottsdale, AZ.  Cave Creek Capital partners with management teams through leveraged buyouts, growth capital and/or mezzanine investment structures.  They use their capital, experience and relationships to enhance a company’s growth and competitive position.  They seek market leaders in targeted sectors such as business services, specialty manufacturing, financial services, consumer, media, and energy.  They focus on businesses that are cash flow positive, preferably $2.0 million in EBITDA and above, and their average investment hold period is approximately five years.

Cave Creek Capital Contact:
Jourdin Lambright, Marketing Associate
Phone: (480) 478-6960

Cave Creek Capital Closes Investment in Air Waves LLC

October 24, 2016

Cave Creek Capital (“CCCM”) is pleased to announce its investment in Air Waves LLC (“Air Waves”), a leading provider of on demand garment printing and fulfillment services. Air Waves services several major online retailers, including Amazon, Zulily and Walmart.com by offering thousands of creative, high quality apparel products with rapid turnaround time and “mass customization” capabilities unmatched by competitors. As apparel sales move online, Air Waves is uniquely positioned to offer products and services that enable E-tailers to improve their quality, selection and turnaround time for end customers.

CCCM’s recapitalization funded a repurchase of shares from Management, in conjunction with a strong team of investment partners, including Stewart Capital, C3 Capital, and Northwood Ventures. “We are looking forward to expanding our business with the help of our new partners.” said Kyle Kantner, CEO of Air Waves.  “Our new partners can provide the financial resources and strategic and operational assistance we need to continue our 30% annual growth” states Dan Kaiser, Air Waves CFO.

Cave Creek Capital has an extensive track record of successful investments where Founders can gain person


Liberty Distribution Company Completes Recapitalization

Liberty Distribution Company (Chandler, AZ), the leading distributor of confections and snacks to non-food retailers, completed its recapitalization in August, refinancing its senior and mezzanine debt while repurchasing shares from Cave Creek Capital.  During the last two years, Liberty’s sales have more than doubled, cementing its leadership in its segment.  Wells Fargo, in conjunction with C3 Capital and Bush O’Donnell Investments, led the refinancing.  CCCM’s investment was valued at 4.2 times its initial investment, representing a gross annualized IRR of 75.4%. CCCM retains a minority investment in Liberty.  The transaction allowed management to own a majority stake and provided incremental capital for further growth.

Cave Creek Capital Contact:
Jourdin Lambright, Administrator
Phone: (480) 478-6960


The VMC Group, Inc. completes recapitalization with Fifth Third Bancorp

The VMC Group, Inc. (Bloomingdale, NJ) a leading manufacturer of vibration isolation and seismic design and shock control systems, refinanced its senior and subordinated debt in conjunction with repurchasing shares from its previous mezzanine investor. Fifth Third Bancorp led the $20.4 million refinancing with a combined senior and mezzanine financing package.

“We are very pleased to complete a successful recapitalization during one of the most turbulent periods in the history of the debt markets” stated VMC CEO John Wilson. “Our sales had grown over 125% since our initial buyout in 2005 and the new capital positions VMC for its next stage of growth”. Cave Creek Capital is a shareholder and advised VMC in structuring and closing the transaction. Managing Partner Kevin Fechtmeyer notes; “We were fortunate to have received several term sheets from lenders given VMC’s strong performance in a soft economy. Fifth Third was a reliable and creative partner in this process and they moved decisively to complete the transaction within the targeted terms and timeframe.”

The prior mezzanine investor, Hill Street Capital, received liquidity for a portion of its shares at a valuation of 8X the original valuation and retains a minority interest in VMC.

Cave Creek Capital Contact:
Jourdin Lambright, Administrator
Phone: (480) 478-6960


Liberty Distribution completes the acquisition of select assets of Coast-to-Coast Candy

Liberty Distribution Company, LLC is pleased to announce the acquisition of select assets of Coast to Coast Candy Co. of Garden City, NY. Liberty and Coast to Coast are leading providers of confections and snacks to non-food retailers throughout the U.S.

Jim Schweikert, CEO of Liberty, says “Coast to Coast’s customers are a perfect complement to our business. We look forward to executing a smooth integration over the next few weeks and continuing our high service levels. Customers will be well supported by the management of Coast to Coast in addition to the great resources and personnel at Liberty.”

Coast to Coast has a 20 year history of operations servicing some of the largest retailers in the U.S. “We are proud of what we have accomplished over the years and we are pleased to be associated with the industry leader” says Robert Bruck, President of Coast to Coast.

Liberty is the nation’s largest provider of confections and snacks to non-food retailers, servicing over 30,000 locations throughout the U.S. on a weekly basis. Candy sales in non-food retail channels have emerged as one of the fastest growing segments in the confection industry and currently represent $500+ million in annual sales. “This transaction will further cement our leadership in this industry,” notes Mr. Schweikert.

For questions, please contact:
Jim Schweikert