Transaction overview
MPE Partners and Hi-Tech Industries completed a strategic investment in 3D International, LLC d/b/a 3D Car Care on July 19, 2022. The deal involves MPE partnering with 3D's founder Tunch Goren and its management team to expand the company’s presence in the car care market. 3D is a leading manufacturer of premium vehicle detailing products, offering compounds, polishes, waxes, ceramic coatings, and hard good accessories sold through professional and consumer channels across the United States and over fifty countries worldwide.
Deal structure and financing
The exact financial details of the deal have not been disclosed. However, Apogem Capital provided financing to support MPE's investment in 3D International. Jones Day acted as legal counsel for MPE Partners, while Parcrest Advisors served as the sell-side advisor to 3D Car Care. The deal does not specify any equity or debt split, leverage metrics, seller-retained stake, lock-up terms, or IPO optionality.
Strategic context
The investment by MPE and Hi-Tech Industries aims to capitalize on 3D's established position in product innovation and go-to-market strategy within the car care industry. Tunch Goren and his team have positioned 3D as a leader through historical investments in branding, new product development, omni-channel sales strategies, and manufacturing capabilities. MPE seeks to extend this foundation by leveraging Hi-Tech’s expertise and market presence to accelerate organic growth for 3D Car Care.
Regulatory path
There is no information available on regulatory scrutiny or required remedies for the transaction. Given that MPE Partners typically invests in lower middle-market companies with values up to $250 million, it is likely the deal did not trigger significant antitrust review unless there were specific competitive concerns in certain regional markets where 3D Car Care operates.
The jurisdictional scope of regulatory involvement would be limited given the undisclosed nature of the transaction value and lack of mention of any filings with U.S. federal regulators or foreign competition authorities.