Cotton Creek Capital Partners announced it has completed a recapitalization of Waxahachie TX-based Coal City Cob Company Inc in partnership with the Cloonen family and management of the Company.
Founded in 1970 in Coal City IL, 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," said Mike Cloonen, chief executive officer of Coal City Cob.
Antonio J DiGesualdo, Cotton Creek managing director, said: "We have had a relationship with Coal City Cob for many years as a strategic provider of transportation services for our businesses. 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 LP, 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.