Goldner Hawn Completes Sale of CTM Group, Inc.
Goldner Hawn announced the sale of CTM Group, Inc. (“CTM”) to the private equity management arm of Z Capital Group, L.L.C. Based in Salem, NH, CTM owns and operates an international network of more than 10,000 pieces of entertainment equipment in over 2,000 premium entertainment and leisure venues. Goldner Hawn first partnered with the CTM management team in 2013.
Led by CEO Tom Coco, the Company has grown rapidly, both organically and through acquisitions, while introducing new equipment and categories for its customers. Under Goldner Hawn’s ownership CTM has nearly doubled in size, added a new game room division and placed its first assets in Asia.
“CTM is the dominant player in its niche market and provides a compelling value proposition to its customers,” said Joe Heinen, CTM Chairman and a Partner at Goldner Hawn. “During our ownership period Goldner Hawn and CTM’s management team further expanded and upgraded the Company’s product suite, which enabled the Company to take market share. As a result, CTM was a very successful partnership and investment for CTM’s shareholders.”
“Goldner Hawn has been a great partner for CTM by supporting its growth plans with capital and board-level guidance throughout their ownership period,” added Tom Coco, “This support has allowed me and the management team to focus on running the business while also pursuing our desire to invest via acquisitions and new equipment.”
About Goldner Hawn
Goldner Hawn was founded in 1989 in Minneapolis, Minnesota and has been a source of private capital to leading lower middle market companies for the past 30 years. With an investment philosophy centered on the principle of partnership, Goldner Hawn is looking to back management teams of businesses with $5 million to $20 million of EBITDA in industries including industrial manufacturing, value-added distribution, consumer products and services, and outsourced business services. Goldner Hawn has made over 40 platform investments in companies with total transaction values approaching $3 billion. For more information, call 612-338-5912 or visit goldnerhawn.com.