Middle-market private equity firm Wynnchurch Capital has completed the sale of Senco Holdings (Senco) to Kyocera Corporation (KYO), a supplier of cutting tools, industrial ceramics, electronic components, printers, copiers, solar power generating systems, mobile phones and semiconductor packages.
Headquartered in Cincinnati, Ohio, Senco is a designer, manufacturer and marketer of branded fastening tools and collated staples, nails and screws. For over 60 years, the Senco brand has been recognised around the world as one of the leading names in residential construction and industrial manufacturing. Wynnchurch acquired Senco in July of 2009.
Frank Hayes, Co-Managing Partner at Wynnchurch, says: “Senco represented an opportunity to rejuvenate a company with a strong brand, broad distribution, and differentiated products. We are very proud and appreciative of the team’s leadership and accomplishments; significant value creation was driven through improved operational and go-to-market strategies, while also executing on key strategic add-ons.”
Steve Welborn, Managing Director at Wynnchurch, adds: “Senco is an iconic brand in the Pro-Trades channels. We are delighted to have worked closely with the management team in restoring its legacy, and are proud of the growth and accomplishments achieved in partnership with management during our ownership period.”
“Wynnchurch has been a valued partner as we have continued to build on our position as the leading provider of fasteners and fastening systems around the world,” says Senco’s Chief Executive Officer Ben Johansen. “Wynnchurch provided tremendous support, including access to financial and operational resources, which helped management grow the business, drive continuous improvement and execute on our strategy. In addition, Wynnchurch was instrumental in leading and executing several strategic acquisitions, furthering our efforts in becoming a full-service, world class organisation.”