The Chicago Corporation has advised Hinda, a provider of customer incentive programs, in its sale to TharpeRobbins Company, a portfolio company of Gridiron Capital.
The Chicago Corporation marketed the Hinda to a select group of industry and private equity buyers and hosted nearly 10 management presentations. After receiving multiple offers, Hinda selected Gridiron/TharpeRobbins because of its full valuation; the opportunity to reinvest in the new company and share in its future successes; as well as the excellent cultural fit between the two companies.
Hinda is a provider of incentive programs used to reward customer loyalty, encourage top sales performance, influence employee behavior and motivate company dealers and distributors. Hinda has revenues of approximately $115 million. The company was founded in 1970 and is based in Chicago (www.hinda.com).
The Hinda acquisition gives TharpeRobbins meaningful scale and related purchasing economies, numerous cross marketing opportunities and the ability to rationalize redundant overhead. “This strategic merger combines the strengths of two companies built on innovation, customer service and flexibility,” said Brett Tharpe, Chief Executive Officer of TharpeRobbins.
TharpeRobbins provides managed recognition and rewards services. The company offers consultative expertise to help organizations design human resources programs that drive higher levels of employee engagement and fulfillment. Its programs include products ranging from personalized jewelry to fine art, electronics, sports and outdoor merchandise. The company is located in Statesville, NC (www.tharperobbins.com). Gridiron Capital acquired TharpeRobbins from Saugatuck Capital in April 2010.
The Chicago Corporation is an investment banking firm focused on providing middle-market companies with a range of financial and corporate advisory services including merger and acquisitions, institutional debt and equity capital raising, and financial restructuring. The firm is based in Chicago (www.thechicagocorp.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-30-12
