Lincoln Partners Represents Woods Equipment Company in its Sale to Genstar Capital, L.P.
Oregon, IL - A shareholder group that included Ares Management, CFSC Wayland Advisors, Inc., and GSC Partners has completed the sale of Woods Equipment Company ("Woods" or the "Company") to Genstar Capital, L.P. ("Genstar Capital"), a San Francisco-based private-equity investment firm. Genstar Capital partnered with industry veteran Fred F. Korndorf and other key members of management to complete this transaction. Lincoln Partners initiated this transaction, assisted in the negotiations, and served as the lead financial advisor to the shareholders of Woods. The terms of the transaction were not disclosed.
Headquartered in Oregon, IL, Woods has annual net sales in excess of $200 million and is a leading full-line manufacturer of attachments and implements for the lawn and landscape, agricultural, and construction markets. The Company's products are sold through a network of independent dealers throughout North America and are marketed under the brand names Woods®, Gill®, CF®, Alitec®, Gannon®, Wain-Roy®, WoodsCare®, and Tisco®. Additional information about Woods is available at its website (www.woodsonline.com).
Mr. Korndorf, the former operating president of Deere & Company, has been appointed Chairman and Chief Executive Officer. Mr. Korndorf's career at Deere & Company, a $13 billion global enterprise, includes the offices of president for each of the major worldwide equipment businesses: agricultural, consumer, and construction. Each division achieved record results during his tenure.
Commenting specifically on the transaction, Mr. Korndorf said, "The management at Woods has developed a sound business, based on strong brands, loyal customers, and quality manufacturing. Woods is the largest player in a multi-billion dollar industry with customers that are looking for strong suppliers. Our challenge and opportunity will be to use the foundation at Woods and deliver on the high expectations of our customers and our employees."
About Genstar Capital
Based in San Francisco, Genstar Capital is a leading private-equity investment firm that makes leveraged investments in quality companies. Genstar Capital works in partnership with management to create value over the long term. With more than $400 million of committed capital under management and significant experience operating and investing in businesses, Genstar Capital brings a unique mix of experience to its portfolio companies. Additional information about Genstar Capital is available at its website (www.gencap.com).
About Lincoln Partners
Chicago-based Lincoln Partners is one of the largest and most active middle market investment banks in the United States. Lincoln Partners specializes in middle market mergers and acquisitions and private capital raising for leading public companies, private equity groups, and privately held companies. The firm's fundamental commitment is to complete assignments on the best terms for clients by committing hands-on attention, ingenuity, and significant expertise to every transaction.