Mesirow Financial acted as exclusive financial advisor to SENCORP in the sale of its assets to Wynnchurch Capital's newly formed portfolio company, Senco Brands, Inc. Wynnchurch Capital acquired the assets of SENCORP through a §363 asset sale pursuant to Chapter 11 of the U.S. Bankruptcy Code.
The acquisition included the major brands SENCO and TyRex. The new company, Senco Brands, Inc., includes both of these well-known brands, the SenSource global sourcing operation and all of SENCORP’s domestic and foreign businesses. The sale was approved on July 2, 2009 by the U.S. Bankruptcy Court and closed on July 17, 2009.
“Mesirow Financial conducted a thorough process in an expedited timeframe and worked closely with all of the company’s constituencies in this transaction in order to achieve the most favorable result,” said Peter van der Wel, president and chief executive officer of Senco Brands, Inc. “We are very pleased with the outcome of the transaction.”
Jeff Golman, vice chairman of Mesirow Financial, said, “We are pleased to have served as financial advisor to SENCORP in this successful transaction. Wynnchurch Capital’s acquisition of SENCORP’s assets will enable the company to continue to provide its long-standing customers with the highest quality products and industry-leading customer service.”
Wynnchurch Capital 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 which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $500 million specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital.