Kinderhook recaps Mersino

Kinderhook Industries has recapitalized Davison, Michigan-based Mersino, a provider of water control solutions.

Kinderhook Industries has recapitalized Davison, Michigan-based Mersino, a provider of water control solutions. No financial terms were disclosed. Catalyst Strategic Advisors, LLC. served as financial advisor to Mersino on the transaction.

PRESS RELEASE

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the recapitalization of Mersino and Global Pump (collectively “Mersino” or the “Company”) in partnership with the President & Chief Executive Officer, Gino Mersino. Financial terms of the transaction were not disclosed.

Founded in 1988 by Rod and Karen Mersino and headquartered in Davison, Michigan, Mersino is a leading provider of water control solutions offering industrial pump rentals and services through its vertically integrated model. The Company operates two divisions – (i) water control solutions with a fleet of over 1,200 pumps and (ii) industrial pump manufacturing marketed through its Global Pump brand. Mersino’s rental and services business consists of three core water control solution offerings – (i) dewatering, (ii) bypass pumping, and (iii) pump rental. Mersino has also recently launched a one-pass trenching service offering. Through a network of 13 branch locations, the Company delivers rentals and services alongside a national footprint of distribution partners who collectively represent over 80 re-rental locations.

“Kinderhook is an ideal partner for our company,” said Gino Mersino, President & Chief Executive Officer of Mersino. “We are excited to partner with them as we take Mersino into its next phase of growth with a focus on expanding the fleet, opening up branches in new markets, and completing add-on acquisitions. We remain committed to providing the best water control solutions in the market.”

“The Mersino Family has built a fantastic business over the last thirty years,” said Robert Michalik, Managing Director of Kinderhook Industries. “We are excited to partner with Gino to expand the Company’s footprint while bringing quality rental equipment and trusted service to even more customers and markets.”

Kirkland & Ellis LLP served as legal counsel to Kinderhook. Catalyst Strategic Advisors, LLC. served as the exclusive financial advisor and Butzel Long acted as legal advisor to Mersino in connection with the transaction. Financing for the transaction was provided by a syndicate of Comerica Bank and Flagstar Bank.