Targus Acquires Sena Cases

Anaheim-based Targus Group International has acquired Sena Cases. Targus is a maker of laptop and mobile device cases and accessories. Sena, based in Irvine, California, is a luxury leather designer, manufacturer, and marketer for smartphone, tablet and laptop cases. Sikich Investment Banking acted as the exclusive buy-side advisor to Targus.


Sikich Investment Banking
(“Sikich”), headquartered in Chicago, today announced its most recent
transaction as the exclusive buy-side advisor to Anaheim-based Targus
Group International, Inc., for its purchase of Sena Cases. Targus is
the maker of the world’s top-selling laptop and mobile device cases and
accessories, while Sena, based in Irvine, California, is a leading
luxury leather designer, manufacturer, and marketer for smartphone,
tablet and laptop cases. The strategic purchase of Sena strongly
positions Targus as a leading provider in the smartphone case

The Sikich team, led by Partner Rick Herbst and Director Susan Tomilo,
was instrumental in exploring and evaluating potential opportunities
for Targus to enhance its position and further its leadership within
the rapidly-growing tablet and smartphone accessories marketplace. With
its strategic transaction experience and focused approach to buy-side
engagements, Sikich collaborated closely with the Targus leadership
team to identify and engage with potential strategic partners on an
exclusive basis. Throughout the process, including the ultimate
negotiation and execution of this acquisition, Sikich partnered closely
with Targus and worked to engage the Sena team, who was not looking to
sell the company at the time. The addition of the Sena portfolio of
products and channels effectively strengthens the Targus leadership
position in the high-growth smartphone case and accessories market.

“Targus has long enjoyed strong brand awareness and recognition as a
leading provider of high-quality cases and accessories for laptops and
mobile devices,” said Michael Hoopis, CEO of Targus. “That said, the
continued growth of smartphones and tablets, and our rapidly evolving
industry, require us to explore and capitalize on great opportunities
to maintain our leadership. Sikich has helped facilitate that for us
with this transaction. The firm’s thoughtful guidance throughout the
process made it an invaluable partner in collaborating with us at all
stages throughout the process.”

“Our goal is to serve as a strategic partner with our clients and meet
their needs in the ways that best enable them to achieve their business
and strategic objectives,” added Herbst. “Targus holds a very strong
position in the industry and this latest transaction adds to that
strength and opens up new markets and channels for the company. We are
pleased to have partnered with them on this endeavor.”

About Sikich Investment Banking

Based in Chicago, Sikich Investment Banking is part of Sikich LLP, a
highly integrated, multidisciplinary professional services firm with
more than 400 employees working out of eight offices located in
Illinois, Indiana, Missouri and Colorado. Sikich Investment Banking is
the Firm’s corporate finance and advisory practice, and through its
wholly-owned subsidiary, Sikich Corporate Finance LLC, a registered
broker-dealer and member of FINRA/SIPC, it provides capital raising,
mergers and acquisitions, and strategic advisory services tailored to
middle market clients in the U.S. and abroad. The Firm’s investment
banking partners are known for their expertise in negotiating
complicated issues and structures, and navigating through the
complexities inherent in industries such as technology, life sciences,
manufacturing, and others. Their strategic advisory acumen enables them
to effectively guide client companies through the process of defining
and honing their value proposition, understanding the competitive
landscape and where they fit, and ultimately realizing maximum
investment returns.. Visit the Sikich Investment Banking page at
http://www.sikich.com/IB for more information.

Securities are offered through Sikich Corporate Finance LLC, a
registered broker dealer with the Securities Exchange Commission and a
member of FINRA/SIPC.

About Targus

Targus invented the laptop case and continues to advance the mobile
accessories category with innovative and relevant solutions for today’s
mobile lifestyle. Targus products enhance productivity, connectivity
and security, liberating users to work in any and all environments with
the utmost convenience and comfort. Founded in 1983, Targus
headquarters are located in Anaheim, Calif., with offices worldwide and
distribution agreements in more than 100 countries.

About Sena Cases

Sena Cases(TM) is a leading designer and manufacturer of slim,
functional, protective and luxurious genuine leather cases for today’s
most popular mobile devices.

Press Contact:Michelle SpellerbergChief Marketing