Transaction overview

The Zabel Companies, a private equity firm based in Charlotte, North Carolina, acquired Stan’s NoTubes on July 7, 2022. The terms of the deal were not disclosed, but it represents a significant investment for The Zabel Companies into a company that specializes in tubeless sealant and wheel technology for the cycling industry. Founded in 2001 by Stan Koziatek and Cindy Koziatek, Stan’s NoTubes has grown to become a global leader with products distributed across nearly seventy countries.

Deal structure and financing

Details on the equity split, debt usage, or lead banks involved in the transaction are unavailable. The acquisition does not include any seller-retained stake, and there is no information available regarding lock-up terms for the former owners or potential IPO options for Stan’s NoTubes in the future. As a private equity-backed buyout, it appears that The Zabel Companies used a combination of debt financing and their own capital to fund this acquisition.

Strategic context

The rationale behind this deal lies in both parties' shared commitment to sustainable long-term growth. For The Zabel Companies, investing in Stan’s NoTubes aligns with its strategy of partnering with established management teams who can drive future value creation. Mike Bush, a longtime partner and leader at the company since 2013, will continue as president and CEO following the acquisition.

For Stan Koziatek and Cindy Koziatek, selling to The Zabel Companies provides an opportunity for them to exit on their terms while ensuring that the business remains in capable hands. They are stepping down after twenty-one years of ownership but leaving behind a strong brand and management team committed to maintaining the company’s legacy.

Regulatory path

The acquisition did not require any regulatory approvals or significant antitrust scrutiny, given its nature as a private equity transaction within the consumer goods sector. There is no public record indicating that The Zabel Companies had to file for Hart-Scott-Rodino (HSR) in the United States or equivalent filings with European Union regulators. However, due diligence was likely conducted internally by both parties to ensure compliance and address any potential competitive concerns before closing.