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Dinex International Inc. was a leading supplier of foodservice equipment and supplies to the healthcare and other institutional industries. Dinex supplies traytop smallwares, dishware, disposable lids, packaging, food service equipment including heating and meal delivery systems.
Competition between Dinex and Seco Systems, a company backed by First Chicago Private Equity, had been intense given the limited number of competitors in the industry. Dinex management came to determine that an acquisition of Seco would be beneficial to the Company.
CMM had advised Dinex on an appropriate price for Seco, one which was not acceptable to First Chicago. Subsequently, Seco experienced operating problems that led to their bankruptcy. CMM, along the Dinex team, immediately traveled to Seco headquarters, met with the trustee, conducted due diligence and structured an acceptable transaction at a fraction of the ongoing concern value. In addition, CMM helped negotiate the appropriate financing package from the bank and closed the transaction in less than six week.
Contact us to learn more about this transaction.
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For more than three decades, Carter Morse & Goodrich has excelled at maximizing shareholder value for our clients and leading transactions through to successful completion.
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Securities are offered through Carter Capital Corporation, member FINRA and SIPC.
This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied on for accounting, legal, tax or other professional advice. While the information herein is deemed reliable, CMG cannot guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with regard to the results to be obtained from its use.
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