Dinex-SECO

Dinex

Business Description

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.

Background

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.

Solution

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 weeks.

 

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Press Releases

2016 Mid Year Review

July 2016

We would like to share with you a few updates at Carter Morse & Mathias, and celebrate some of our notable achievements for the first six months of 2016. It has been a strong first half for CMM, as measured by the number of closed transactions, the valuations achieved for our clients, the recognitions we have received and our continued involvement in our communities.

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Carter Morse & Mathias Launches Legacy Series

June 2016

Carter Morse & Mathias (“CMM”) is pleased to announce the launch of Creating a Legacy – Life After a Sale. The series gives unique insight into some of the successful business people that CMM has advised, and what they are doing with the resulting time and money to help create their own personal legacies

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CMM Managing Director, Ramsey Goodrich, to Chair the 45th Annual InterGrowth Conference in 2017

May 2016

Carter Morse & Mathias ("CMM") is pleased to announce that its Managing Director, Ramsey Goodrich will be the Chair of the 2017 InterGrowth Conference, hosted by the Association for Corporate Growth at the Aria Resort in Las Vegas Nevada, one of the largest conferences for deal makers and professionals focused on the middle market.

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