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Grindmaster’s Sale to Cecilware Corp.

Transaction Details

Client: Grindmaster Corp.  was a global leader in the beverage dispensing equipment industry with distribution in over 70 countries and manufacturing facilities in the U.S. and Thailand
Ownership: Individual financial investors represented by a financial holding company, Avenir Group
Buyer: Cecilware Corp. is a leading company in the beverage and food service equipment market for over 100 years
Transaction: Cecilware acquired 100% of the stock of Grindmaster
Consideration: 90% cash; 10% debt

Situation Review

  • KGI was engaged by Grindmaster to conduct a negotiated sale process.
  • In the year to prior to engagement the Company was at breakeven and had generated losses in the prior four years

Transaction Process

  • KGI prepared a Confidential Information Memorandum based on its “marginal contribution” model.
  • An intense marketing effort was deployed focused on strategic buyers only

Outcome

  • KGI generated five indications of interest &/or term sheets.
  • The combined companies are now known as Grindmaster-Cecilware