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LBC Credit Partners Agents $42.5MM Term Loan in Senco Brands Recap

February 03, 2014, 07:59 AM
Filed Under: Manufacturing

LBC Credit Partners (“LBC”) agented a $42.5 million senior secured term loan to support the recapitalization of Senco Brands, Inc. ("Senco" or “the Company”), a Wynnchurch Capital portfolio company. Proceeds from the transaction were used to finance the Company’s continued growth and a special one-time distribution to the Company’s shareholders.

LBC Credit Partners was Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.

Senco is a leading designer, manufacturer and marketer of branded fastening tools and collated staples, nails and screws. 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 segments - home construction/remodeling, furniture, manufactured housing, pallets/crating - Senco products are available through professional distribution outlets in more than 40 countries. In addition, the company's TyRex® brand features tools and collated fasteners for use in concrete and steel fastening applications found in the construction of high-rise structures, hospitals, and schools as well as roads and bridges.

Wynnchurch Capital, headquartered in Rosemont, IL with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and 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 that have outstanding management teams and possess the potential for substantial growth and profit improvement.

Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy and power services, logistics, transportation and value-added distribution. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion, specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital.

LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With approximately $1.4 billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in Chicago and New York City.

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