Sale to Genstar Capital, LLC

Industrial
Sale to Genstar Capital, LLC

Summary

Baird served as the lead financial advisor to Sonny's Holdings, LLC on this transaction

About

Sonny’s Holdings, LLC (“Sonny’s,” or the “Company”), a portfolio company of Sentinel Capital Partners, LLC (“Sentinel”), was recently acquired by Genstar Capital, LLC (“Genstar”). Terms of the transaction were not disclosed.

Sonny’s is the largest global manufacturer of conveyorized car wash systems and provides a complete, integrated suite of products and services, including conveyorized car wash equipment, chemicals, parts and service. Starting from site planning and construction, Sonny’s provides end-to-end support to more than 6,000 customers, ranging from individual car wash owner-operators to large multi-unit consolidators. Sonny’s has a large and growing installed base of car wash tunnels, with an increasing focus on full lifecycle solutions including parts and chemicals. Sonny’s is an established M&A platform, completing six strategic transactions over the past three years that expanded its product offering and presence across the distribution channel. Sonny’s has national reach across its manufacturing and distribution footprint, with its headquartered in Tamarac, Florida.

Sentinel Capital Partners specializes in buying and building businesses in the lower midmarket in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. Sentinel is headquartered in New York, New York.

Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $19 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrial technology and software industries. Genstar is headquartered in San Francisco, California.
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Industrial
Sale to Genstar Capital, LLC
Date
August 2020
Company
Sonny's Holdings, LLC
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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