Wynnchurch Capital has completed its acquisition of Sencorp, the parent company of Cincinnati-based toolmaker Senco Products. The deal was valued at $41 million.
SENCORP, an Ohio based manufacturer of fastening tools and fasteners, and Wynnchurch Capital, a Chicago based private-equity firm, announced today the closing of the sale of the assets of SENCORP to Wynnchurch’s newly formed portfolio company, Senco Brands, Inc. The acquisition included the major brands SENCO and TyRex. The new company, Senco Brands, Inc., includes both of these well known brands, the SenSource global sourcing operation, and all of SENCORP’s domestic and foreign businesses. The sale was approved on July 2, 2009 by the U.S. Bankruptcy Court.
About Wynnchurch Capital:
Located in the Chicago suburb of Rosemont, Illinois and founded in 1999, Wynnchurch Capital is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $500 million specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. More information on Wynnchurch Capital can be found at: www.wynnchurch.com.
For nearly 60 years, the SENCO brand has been recognized around the world as one of the leading names in wood to wood construction. With tools, fasteners and accessories for use in a variety of professional fastening segments – home construction/remodeling, furniture, manufactured housing, pallets/crating – SENCO products are available through professional distribution outlets in more than 40 countries. Available since 2006, the TyRex brand features tools and collated fasteners for use in concrete and steel fastening applications found in the construction of high-rise structures, hospitals, schools and roads and bridges.