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

CMM Celebrates 30 years

October 2017

We would like to sincerely thank the hundreds of clients, referral sources and trusted advisers with whom we have worked to help owners of private businesses maximize shareholder value through their 'once in a lifetime' transactions.

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CMM's 2017 Mid-Year Review

August 2017

We are happy to highlight some of our notable achievements during the first six months of 2017 and share with you a few updates at Carter Morse & Mathias.  We continue to see strong activity and valuations in the middle market, driven by dynamic private equity markets, readily available credit markets, ample cash from strategic buyers and a surging public stock market. It continues to be a 'sellers' market' with robust valuations and more flexible terms. Although we don't see any immediate material risks to this frothy market, we are confident that it cannot last much longer. If you are contemplating a transaction in the next few years, we encourage you to consider it sooner rather than later.

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The Buyer’s Advantage - How Business Owners Can Level the Playing Field

July 2017

You’ve built a great company. Your determination and perseverance have earned you happy customers, loyal employees, and even the support of your bank. The top line continues to grow nicely and the bottom line is well into the black. From product development to customer service, you and your team have demonstrated impressive business skills.  But when it’s time for that once-in-a-lifetime event, the sale of your business, you will face an experienced private equity firm or strategic corporate buyer for whom this is just another transaction. The playing field is not level.

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