Wynnchurch Capital Sells Senco
Rosemont, IL – August 8, 2017 — Wynnchurch Capital (“Wynnchurch”), a leading middle market private equity firm, announced that it has completed the sale of Senco Holdings Inc. (“Senco” or the “Company”) to Kyocera Corporation (NYSE:KYO), a supplier of cutting tools, industrial ceramics, electronic components, printers, copiers, solar power generating systems, mobile phones and semiconductor packages.
Headquartered in Cincinnati, Ohio, Senco is a leading designer, manufacturer and marketer of branded fastening tools and collated staples, nails and screws. For over 60 years, the Senco brand has been recognized around the world as one of the leading names in residential construction and industrial manufacturing. Wynnchurch acquired Senco in July of 2009.
Frank Hayes, Co-Managing Partner at Wynnchurch, stated, “Senco represented an opportunity to rejuvenate a company with a strong brand, broad distribution, and differentiated products. We are very proud and appreciative of the team’s leadership and accomplishments; significant value creation was driven through improved operational and go-to-market strategies, while also executing on key strategic add-ons.”
Steve Welborn, Managing Director at Wynnchurch, added, “Senco is an iconic brand in the Pro-Trades channels. We are delighted to have worked closely with the management team in restoring its legacy, and are proud of the growth and accomplishments achieved in partnership with management during our ownership period.”
“Wynnchurch has been a valued partner as we have continued to build on our position as the leading provider of fasteners and fastening systems around the world,” said Senco’s Chief Executive Officer Ben Johansen. “Wynnchurch provided tremendous support, including access to financial and operational resources, which helped management grow the business, drive continuous improvement and execute on our strategy. In addition, Wynnchurch was instrumental in leading and executing several strategic acquisitions, furthering our efforts in becoming a full-service, world class organization.”
Lincoln International LLC acted as the exclusive financial advisor and Vedder Price acted as legal advisor to Senco and Wynnchurch in the sale process.
Senco is a leading designer, manufacturer and marketer of branded fastening tools and collated staples, nails and screws. With tools, fasteners and accessories for use in a variety of professional fastening segments — home construction/remodeling, furniture, manufactured housing, pallets/crating — Senco products are available through professional distribution outlets in more than 40 countries. For more information, please visit: www.senco.com.
About Wynnchurch Capital
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.