Month: May 2017

Colfax Creek Leads Recapitalization of Twist and Seal

Finding the right investor makes a difference. Any firm can invest in a company and provide capital, but Colfax Creek invests as a dedicated, long-term partner to drive business growth. That personal touch helped Colfax Creek founder Jason Duzan stand out against the competition in leading a recent recapitalization of Midwest Innovative Products, who does business as Twist and Seal, with the management team.

“After entertaining numerous offers from investment partners, Jason instantly rose to the top,” Twist and Seal founder and CEO Bryan Nooner said. “As a seasoned entrepreneur and founder of Midwest Innovative Products, I was looking for a partner that offered more than just capital. Having a partner that provided access to the appropriate funding was certainly important; however, it was not the key decision-making factor. Having the ‘right fit’ partner that understood both our current and future business needs was actually the critical hurdle that needed to be overcome.”

Colfax Creek’s investment will support Nooner in his vision to grow the Twist and Seal product line into more retailers, expand into new end markets, and introduce new products.

Based in the Chicago suburb of Frankfort, Twist and Seal designs and manufactures patented devices that protect electrical cords from water damage. The device snaps over where two cords plug together or where cords plug into a multi-plug power strip to keep snow, rain, and ice from affecting the connection. Twist and Seal serves a wide range of customers, including homeowners hanging Christmas lights, zoos, industrial operations, entertainment venues, construction sites, and municipalities.

Each Twist and Seal product has gone through rigorous lab testing, has been certified to industry standards and is manufactured in the U.S. Twist and Seal is a three-time recipient of the Most Innovative Product of the Year award at the National Hardware Show. Twist and Seal products can be found at most hardware stores, including Lowe’s, Home Depot, and Walmart.

“I am excited to partner with Bryan Nooner to continue to grow the Twist and Seal business,” Jason said. “I believe Twist and Seal is a real gem that has innovative and unique products, fantastic retail partners and, most importantly, a passionate CEO. Twist and Seal is a good fit for Colfax Creek, as we can leverage my experiences and resources leading investments in numerous consumer products businesses.”

The Colfax Creek Difference

  • The Colfax Creek difference starts before a deal has ever been made. Jason shows up at the table with 20 years of private equity experience, a willingness to develop a plan that works well for Colfax Creek and the company, and the drive to create an even better company together.
  • “Jason’s straight-forward and insightful demeanor demonstrated a tremendous amount of business acumen along with respect and caring for me and our growing organization,” Nooner said. “I really appreciated the ‘stick-to-it’ intensity level that Jason brought to the due diligence and acquisition process. He has developed a very efficient and thorough acquisition methodology that does not overburden the management team, allowing the company to focus on its operations. From the first meeting to closing, Jason kept his team on task and always followed through with what he said he would do. As a result of our partnership with Jason and his Colfax Creek organization, I am confident that our company is now positioned with the necessary strategic leadership and capital to grow.”

A Friend in the Business

  • As a private investment firm, Colfax Creek focuses on “smaller” middle market companies in the Great Lakes states where the team’s expertise can have the most impact and utilizing relationships to find outstanding operating partners and companies.
  • Andrew Chidester, an investment banker with Metolius Partners Inc., introduced Jason to Twist and Seal and the opportunity to recapitalize the company. Metolius helps companies find the best solution for their liquidity needs by assisting business owners with raising capital, selling assets, merging, and purchasing other businesses.
  • “It was a pleasure working with Colfax Creek on the successful closing of Twist and Seal,” Chidester “Jason and the Colfax Creek team were consummate professionals throughout the transaction process and delivered on the deal terms they initially proposed. Twist and Seal has gained a valuable partner in Colfax Creek, and I expect Twist and Seal to achieve significant success in the near future.”

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