Cotton Creek Capital Announces the Sale of
Coal City Cob
Austin, Texas – November 8, 2022 - Cotton Creek Capital (“Cotton Creek”) is pleased to announce the sale of Waxahachie, Texas-based Coal City Cob Company, Inc. (“CC Cob”), a leading provider of specialized liquid bulk freight services to major chemical manufacturers and distributors, to Heniff Transportation Holdings, LLC (“Heniff”).
Over the course of Cotton Creek’s investment with CC Cob, the Company focused on expanding its chemical product expertise to specialize in servicing core customers as a supply chain partner. CC Cob developed unique service offerings, expanded its driver capacity, and optimized operational efficiencies to improve customer service and opportunities for its drivers and employees. In addition, the Company continued to build a strategic geographic footprint, doubling its size under Cotton Creek ownership.
“I am grateful to Mike Cloonen and Cotton Creek Capital for entrusting our team to carry forward 50 years of its history,” said Alan Goldstein, President of Coal City Cob. “As we enter this new relationship, I could not be more convinced that both companies are committed to preserving the same shared values, which start and end with taking care of people. I'm excited for our organization to join the Heniff team and improve our abilities to provide our customers with creative solutions and excellent service. Of equal importance, I believe our existing drivers will discover meaningful economic opportunities by gaining access to Heniff's expansive footprint and uniquely diversified service offerings.”
Michael Cloonen, Coal City Cob’s CEO, added, “I’m proud of the shared success that CC Cob and Cotton Creek achieved during our partnership. It was also important that CC Cob’s customers, employees, and drivers join an organization with mutually beneficial goals. Having known Bob Heniff, as a friend and respected industry participant for many years, I feel there is opportunity for CC Cob’s strong foundation to flourish within a complementary organization.”
“Antonio DiGesualdo, Managing Partner of Cotton Creek Capital, said, “We appreciate the opportunity Cotton Creek was given to partner with Mike Cloonen as stewards in an important chapter of CC Cob’s history. We are grateful for the efforts of CC Cob’s management team and believe they are well positioned for continued success under the Heniff platform.”
The Company was advised by William Blair & Company and Greenberg Traurig LLP (legal).
About CC Cob
Founded in Coal City, IL in 1970 by the Cloonen family, the Company has established operational expertise in handling hazardous materials and waste for a diverse customer base across multiple end-markets. In addition to freight, CC Cob offers rail, transloading, and full-service tank cleaning services from its headquarters in Waxahachie, TX. The Company possesses an integrated 27-acre facility that includes a rail spur, tank wash facility, maintenance bays, and freight services on one campus. CC Cob’s operations include terminals in Texas, Louisiana, Illinois, Georgia, Ohio, Wisconsin, North Carolina and New Jersey. For more information, visit Cob’s website at www.cccob.com.
About Cotton Creek Capital
Based in Austin, Texas, Cotton Creek Capital is an operationally focused private equity firm that focuses on investing in and growing lower middle market companies in manufacturing, infrastructure services, specialty chemical, building products, food and beverage and business services sectors. The Firm targets businesses with EBITDA between $5 million and $15 million, investing in situations ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures. Cotton Creek Capital partners with exceptional management teams, collaborating to develop a focused vision and execution plan based on company-specific objectives. Cotton Creek Capital’s senior investment professional have extensive experience investing in privately held businesses with an active approach that enables Cotton Creek Capital to work in concert with management teams to build market-leading businesses. For further information, visit Cotton Creek's website at www.cottoncreekcapital.com.
Media Contact:
Kate Boyd
P: 512-412-3306
kboyd@cottoncreekcapital.com