Lincoln International Represents Monomoy Capital Partners in the sale of SRC to Buckingham Capital Partners and Stelaris
Lincoln International LLC, a leading global mid-market investment bank, has announced the sale of SRC, Inc. (“SRC” or the “Company”) to Buckingham Capital Partners II, L.P. and Stelaris LLC. SRC was a portfolio company of Monomoy Capital Partners, L.P. (“Monomoy”). Terms of the transaction were not disclosed.
SRC is a leading producer of magnesium flux, anhydrous magnesium chloride and magnesium chloride solution to customers in both the U.S. and abroad. The Company supplies critical, high value products that are consumed to support a variety of end markets, including aerospace and defense, automotive, consumer products and packaging. With facilities in Cleveland, Ohio and Albany, Oregon, SRC operated as a non-core division of Compass Automotive Group, a Monomoy portfolio company, until it was spun off into a standalone company in June 2009.
Lincoln International acted as the exclusive financial advisor to SRC and worked closely with Monomoy and SRC’s senior management team throughout the transaction. “Lincoln International was a valued and trusted partner throughout the transaction,” said Justin Hillenbrand, Partner, Monomoy. “They quickly created a highly competitive, disciplined sale process that produced an attractive outcome for shareholders.” Bill Strohlein, CEO of SRC, added, “Lincoln was a tremendous partner for SRC. They developed a deep understanding of our business while also providing expert guidance to the executive management team through the entire sale process.”
About Monomoy Capital Partners
With over $700 million in assets under management, Monomoy Capital Partners is a private equity firm that makes controlling investments in middle market companies. Monomoy has completed 31 transactions in the smaller end of the middle market over the past five years and currently owns 10 businesses that collectively employ more than 4,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth. More information about Monomoy can be found at www.mcpfunds.com.
SRC is a leading global producer of premium magnesium fluxes, anhydrous magnesium chloride and magnesium chloride solution. The Company’s fluxes are critical components in the production, casting and recycling of magnesium and magnesium alloys, while SRC’s anhydrous magnesium chloride is used in a variety of industrial and other applications, including desiccants and the manufacturing of specialized catalysts. More information about SRC can be found at www.srcrossborough.com.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With 10 offices in Asia, Europe and North America, and strategic partnerships with leading institutions in China, India and Korea, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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