Audax-owned Senneca acquires Enershield Air Barriers

Senneca Holdings has bought Enershield Air Barriers, an Edmonton-based designer and maker of air barrier equipment used in retail, restaurant, commercial, and industrial applications. The deal’s financial terms were not disclosed. Senneca, a Cincinnati, Ohio-based specialty custom door manufacturer, said the acquisition will enhance its product offering. Enershield, which will continue to operate in Canada, is Senneca’s fifth add-on deal since the company was acquired by U.S. private equity firm Audax Private Equity in September 2014.

PRESS RELEASE

Senneca Announces the Acquisition of Enershield Air Barriers

July 27, 2016

CINCINNATI–(BUSINESS WIRE)–Senneca Holdings (“Senneca”) announced it has acquired Enershield Air Barriers. Headquartered in Edmonton, Alberta, Canada, Enershield engineers, manufactures and sells air barrier equipment that uniquely controls the flow of air between the building and outside to minimize energy loss and to create a barrier for insect and dust control. These products are widely used in retail, restaurant, commercial, and industrial applications and will continue to be manufactured in Canada.

Headquartered in Cincinnati, Ohio, Senneca is a specialty custom door manufacturer providing solutions to the retail, restaurant, supermarket, pharmaceutical, food processing, waste water treatment, hospital, medical, and other diversified commercial and industrial end markets. Since Audax’ initial investment in 2014, Senneca has completed five acquisitions, diversifying the company’s product offering, broadening its manufacturing capabilities and its’ geographic footprint.

Jeffrey Stark, Chief Executive Officer of Senneca, stated, “We are excited to add the Enershield product line to the Senneca offering. We are striving to become the one-stop-shop for retail, commercial, and industrial specialty doors and believe the addition of this technology brings us one step closer to this goal and broadens our product offering. We are constantly looking for ways to add value to the customer and this product delivers through energy savings, dust and insect control, reduced equipment maintenance and increased employee comfort. We look forward to bringing this solution to our customers.”

Michael Launer, founder of Enershield, said, “Adding our brand to the other high quality brands associated with Senneca will accelerate our growth plans by leveraging their sales organization and customer base and expanding our footprint in the United States.” Mike will stay on with Senneca to help oversee the sales growth of this product line.”

ABOUT SENNECA HOLDINGS
Founded in 1932, Senneca is a leading manufacturer and distributor of specialty doors for diverse and growing end markets that require custom doors with the shortest lead times. Senneca’s superior design and breadth of specialty doors allows Senneca to offer its customers custom products in the shortest lead times. Senneca’s family of brands are supported by nine manufacturing facilities and one corporate office. For more information about Senneca, visit www.senneca.com.

ABOUT AUDAX PRIVATE EQUITY
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $10 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website at www.audaxgroup.com.

Contacts
Senneca Holdings
Chip Hillman, 513-603-2981
Director of Corporate Development

Photo courtesy of Enershield Air Barriers