Merit Capital Partners recently completed the successful exit of its Fund V investment in Icon Identity Solutions (“Icon”). In August 2019, Icon was acquired by MC Group, a portfolio company of Arcapita, a global investment firm. Merit made its investment in Icon in February 2016 in partnership with the company’s executive management team.
Founded in 1931 and headquartered in Rolling Meadows, Illinois, Icon is one of the nation’s largest brand implementation companies, specializing in full-service signage manufacturing and installation services, sign and lighting maintenance services, specialty services and commercial retail construction solutions. Icon is one of only a few companies in the industry that offer such a comprehensive range of branding services.
Under Merit’s ownership, Icon increased in size by approximately 40% through the expansion of its existing customer relationships across multiple service lines, and also by adding a key customer with activity throughout the U.S. “The team at Merit was a true partner to me and Icon’s executive team, and helped to develop an achievable strategy to grow the company and increase its value,” said Kurt Ripkey, Icon’s President and CEO.
Merit invested both subordinated debt and equity in its 2016 acquisition of Icon. Merit and Icon were advised on the transaction by Duff & Phelps Securities, LLC. Please contact Ben Yarbrough or Lauren Hamlin for additional information.