Century Park Capital Partners said Wednesday that it closed the sale of Lynx Grills Inc. to Middleby Corp. Downey, California-based Lynx makes high-performance outdoor kitchen products like stainless steel barbeque grills as well as complementary cooking, storage, refrigeration and food preparation accessories. William Blair advised Lynx.
LOS ANGELES–(BUSINESS WIRE)–Century Park Capital Partners is pleased to announce that is has completed the sale of Lynx Grills, Inc. (“Lynx” or the “Company”), to Middleby Corp. (NASDAQ: MIDD), a manufacturer of commercial and residential kitchen equipment.
Lynx is a leading manufacturer of superior-quality, high-performance outdoor kitchen products. The Company’s products include a selection of premium stainless steel barbeque grills as well as complementary cooking, storage, refrigeration and food preparation accessories. The Company’s primary brands are Lynx Professional Grills and Sedona by Lynx. The Company distributes its products nationwide through a network of national and regional hearth and patio dealers, appliance dealers, specialty retailers and distributors. The Company believes it has the #1 market position for an independent outdoor kitchen manufacturer.
Under Century Park’s ownership, Lynx has emerged as a leading brand in the premium outdoor kitchen market and has set industry standards for design, quality and innovation. With a state-of-the art facility in Downey, CA, and a robust product development pipeline, Lynx is the undisputed innovation leader in the outdoor kitchen category. Indeed, the Company’s revolutionary “SmartGrill” product was recently recognized as the “Best Innovation” at the 2015 Consumer Electronics Show, and its recently introduced Napoli Pizza Oven is Lynx’s most successful new product to date.
Chip Roellig, Managing Partner with Century Park Capital Partners, commented, “Lynx has evolved into the leading luxury brand in the outdoor kitchen market. CEO Jim Buch and his team have done a terrific job executing on the opportunity to build a world class company in this space.”
Guy Zaczepinski, Managing Partner with Century Park Capital Partners, added, “Jim and his team were able to transform Lynx from a well known trade brand to the hottest name in outdoor kitchens. With recent housing tailwinds and trends favoring outdoor living, Lynx will have a very bright future with Middleby.”
Jim Buch, President and CEO of Lynx, commented, “I am grateful to Century Park Capital Partners for their unwavering support of Lynx, especially through the downturn, their collaborative approach to strategy, and their willingness to take risks and make investments in growth. I look forward to writing the next chapter in partnership with Middleby.”
William Blair and Company served as financial advisor to Lynx in this transaction.
About Lynx Grills, Inc.:
Lynx Grills, Inc., headquartered in Downey, California, manufactures and markets premium stainless steel outdoor kitchen products and related accessories. Lynx’s product offering includes a complete line of premium outdoor grill platforms, each of which is available in a variety of customizable configurations. In addition, Lynx manufactures a line of cocktail carts, outdoor refrigerators and related beverage service and storage products. Lynx distributes its products nationwide through a network of national and regional hearth and patio dealers, appliance dealers, specialty retailers and distributors. For more information on Lynx Grills, please visit www.lynxgrills.com.
About Century Park Capital Partners:
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $50 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions. For more information on Century Park Capital Partners, please visit www.centuryparkcapital.com.