Lincoln International Represents Pace American in its Sale to Sun Capital Partners
CHICAGO, June 25, 2010 - Lincoln International LLC (through its wholly-owned affiliate Lincoln Partners Advisors LLC), a leading global mid-market investment bank, today announced the sale of substantially all of the assets of Pace American, Inc. (“Pace American” or the “Company”) to an affiliate of Sun Capital Partners, Inc. (“Sun Capital”). The sale of the Company was completed through an auction under Article 9 of the Uniform Commercial Code. Lincoln International acted as the investment banking advisor to Pace American on this transaction with Silverman Consulting acting as a financial advisor to the Company. Terms of the transaction were not disclosed.
Founded in 1986 and headquartered in Bannockburn, Illinois, Pace American is a leading national supplier of enclosed cargo and utility trailers with some of the most recognized brand names in the industry. The Company operates five manufacturing facilities, located in Georgia, Indiana, Oregon, Texas and Utah. Pace American sells its products throughout the U.S. and Canada through a large dealer network and the mass-merchant channel. The Company has the most complete product line in the industry with trailers used by a wide range of recreational and commercial customers, particularly in the racing market.
The Lincoln International transaction team worked closely with the Company throughout the sale process, including crafting a comprehensive marketing strategy, managing the due diligence process, selecting a stalking horse bidder, assisting with the bid procedures and helping coordinate the auction.
“Lincoln International was a valued and trusted partner throughout the transaction,” said James Tennant, Chief Executive Officer of Pace American. “They quickly created a highly competitive, disciplined sale process that produced a positive outcome in the best interests of everyone connected with the Company, including its employees, customers and creditors.”
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 and India, 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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