Sikich Investment Banking Advises Targus on Acquisition of Sena Cases
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Sikich Investment Banking Advises Targus on Acquisition of Sena Cases

Sikich Investment Banking acted as the exclusive buy-side advisor to Targus Group International on its purchase of Sena Cases, a manufacturer of smartphone cases.  The Sikich team was led by Partner Rick Herbst and Director Susan Tomilo.

Sena is a designer and manufacturer of slim, functional, protective and luxurious genuine leather cases for smartphones, tablets and laptops. The company is based in Irvine, CA (www.targus.com).  Targus is a manufacturer of laptop and mobile device cases and accessories.  The company was founded in 1983 and is based in Anaheim, CA (www.targus.com).

“Targus has long enjoyed strong brand awareness and recognition as a leading provider of high-quality cases and accessories for laptops and mobile devices,” said Michael Hoopis, CEO of Targus. “That said, the continued growth of smartphones and tablets, and our rapidly evolving industry, require us to explore and capitalize on great opportunities to maintain our leadership.  Sikich has helped facilitate that for us with this transaction. The firm’s thoughtful guidance throughout the process made it an invaluable partner in collaborating with us at all stages throughout the process.”

Sikich explored and evaluated potential opportunities for Targus in order to enhance its position and further its leadership within the rapidly-growing tablet and smartphone accessories marketplace.  Sikich collaborated closely with the Targus leadership team to identify and engage with potential strategic partners on an exclusive basis.  Throughout the process, including the ultimate negotiation and execution of this acquisition, Sikich partnered closely with Targus and worked to engage the Sena team, who was not looking to sell the company at the time.

“Our goal is to serve as a strategic partner with our clients and meet their needs in the ways that best enable them to achieve their business and strategic objectives,” said Mr. Herbst.  “Targus holds a very strong position in the industry and this latest transaction adds to that strength and opens up new markets and channels for the company. We are pleased to have partnered with them on this endeavor.”

Sikich Investment Banking is part of Sikich LLP, a multidisciplinary professional services firm with more than 400 employees working out of eight offices located in Illinois, Indiana, Missouri and Colorado.  Sikich Investment Banking is the firm’s corporate finance and advisory practice, and through its wholly-owned subsidiary, Sikich Corporate Finance, it provides capital raising, mergers and acquisitions, and strategic advisory services to middle market clients in the U.S. and abroad.  Sikich Investment Banking is based in Chicago (www.sikich.com/IB).

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-7-12

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