client_transactions

SSG Client Transactions

Title

Watermill Group
Client Profile

Client Profile

Watermill Group is a strategy-driven private equity firm based in Boston that has closed over 60 transactions in its 34 year history. Tenere is a full-service designer and fabricator of complex metal and plastic parts and assemblies. Its highly engineered machined and electromechanical components are critical to its customer base that includes leading companies in the cloud computing and network communications sectors as well as in the aerospace, medical and industrial segments. Tenere operates three facilities located in Dresser, WI; Somerset, WI; and Lakewood, CO.
Situation

Situation

Watermill executed a letter of intent to acquire Tenere and shortly thereafter retained SSG to help deliver creative financing alternatives in light of the fact that Tenere required significant capital to fund growth in addition to the capital necessary to consummate the acquisition.
Solution

Solution

SSG worked closely with Watermill to negotiate a transaction structure that included a senior working capital revolver as well as a senior term loan. In order to support growth in Tenere’s cloud computing and network communications business, Watermill intends to invest in more manufacturing capacity. As a result, SSG also helped source a capital expenditure line. The total financing package was $32 million.
December 2012
$10,000,000
Revolving Credit Facility
$17,000,000
Senior Secured Term Loan
$5,000,000
Capital Expenditure Facility
to finance the acquisition of Tenere, Inc.
The undersigned acted as Investment Banker to
Watermill Group on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

Contact by E-mail »

New York
(212) 786-7432

Contact by E-mail »