Senco Brands, Inc. a portfolio company of Wynnchurch Capital Partners II, L.P., has refinanced
Lincoln International LLC (“Lincoln International”), a leading global mid-market investment bank, announced today the successful completion of a financing for Senco Brands, Inc. (“Senco” or the “Company”), a portfolio company of Wynnchurch Capital Partners II, L.P. (the “Sponsor”). Senco is a leading designer, manufacturer and supplier of branded fastening tools (e.g., staplers and nailers) and related, consumable branded fasteners (e.g., staples, nails and screws). The Company’s products are primarily used by professional tradesmen and industrial users in residential construction projects, remodeling jobs and the production of furniture, cabinets and pallets, among other industrial products.
Lincoln International acted as exclusive financial advisor to Senco and the Sponsor, and worked closely with Senco and the Sponsor on all aspects of the financing, helping to structure, arrange and negotiate a $25 million senior revolving credit facility provided by Bank of America, N.A. and a $42.5 million first lien term loan provided by LBC Credit Partners. Proceeds from the transaction were used to finance the Company’s continued growth and a special one-time distribution to the Company’s shareholders. Steve Welborn, Managing Director at Wynnchurch, stated, “We are very pleased with the outcome of the Senco financing. Lincoln efficiently and effectively conducted a robust financing process that explored multiple structural alternatives and ultimately resulted in a favorable outcome with a new lending partner. As a repeat client of Lincoln’s Debt Advisory Group, we continue to see a great deal of value in outsourcing financings such as Senco with Lincoln.”
About Senco Brands, Inc.
Based in Cincinnati, Ohio, Senco is a leading designer, manufacturer and supplier of branded fastening tools (e.g., staplers and nailers) and related, consumable branded fasteners (e.g., staples, nails and screws), primarily used in the residential construction market and in the production of industrial products, such as furniture, cabinets and pallets. The Company offers its broad portfolio of highly-regarded branded products to professional tradesmen, industrial builders, big-box retailers and industrial manufacturers. Senco is known for its product quality, durability and reliability, and the Company enjoys strong brand awareness among various channel partners and end-users. For more information, please visit www.sencobrands.com.
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