CID Capital Closes Fourth Buyout Fund at $250M

CID Capital closed its fourth buyout fund at a hard cap of $250 million, finishing well above the $200 million target.

The Indianapolis-based private equity firm makes majority investments in lower middle-market businesses in the consumer, industrial and distribution sectors, targeting US-headquartered companies with revenues of at least $10 million and an EBITDA of $3 million or more.

“Our strategy remains unchanged,” said Eric Bruun, a CID partner. “We are an industrial-focused, first institutional capital investor. We have a process and approach that appeals to owners, management teams and advisors.”

The firm also announced the promotion of Eric Derheimer and Cory Heck to co-managing partners, which will be effective on January 1, 2025.

Derheimer, who joined the firm in 2014, will lead all firm operations. Heck, who has also been with the firm for a decade, led the fundraising for Fund IV, and will continue to lead investor relations.

CID’s current managing partner Steve Cobb will move to a senior partner role, where he will focus on the current investment portfolio and various transition initiatives in anticipation of a December 2025 retirement.