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Windjammer Capital Investors has been awarded "Middle Market Firm of the Year: North America" in two consecutive years, 2011 and 2012, by DealMakers Monthly magazine.

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Aug, 2011 - Windjammer Exits Investment in Rotex Global


Windjammer Capital Investors is pleased to announce the successful exit of its investment in Rotex Global, LLC (“Rotex” or the “Company”) through a sale to Hillenbrand, Inc. (NYSE: HI) for $240 million in cash subject to certain closing and post-closing adjustments.  In March of 2007, Windjammer partnered with the management team to acquire Rotex in a leveraged buyout for a purchase price of $85 million.  Windjammer’s investment consisted of a combination of equity and subordinated debt.

 

Headquartered in Cincinnati, OH with manufacturing operations in Runcorn, UK and Wavre, Belgium, ROTEX is a pioneer and global leader in the development of screening equipment and technology for the process industries. ROTEX offers an innovative line of separation equipment that includes: gyratory and vibratory screeners and sifters for dry applications, liquid-solid separators for wet applications, automated particle size analyzers, and vibratory feeders and conveyors. ROTEX® Parts & Service offers a full range of genuine replacement parts and rebuild services.

 

Windjammer's investment thesis in Rotex centered on the Company’s market leadership position that resulted from its product development and application expertise, world class manufacturing, and an intense focus on customer service and aftermarket support for its worldwide customer base.  During Windjammer’s ownership, Rotex organically grew sales by over 70%, more than doubled EBITDA and improved margins by over 640 basis points.  The company achieved these goals through product development initiatives focused on core and growing industries; key senior hires at the CFO and VP-Operations positions; focus on international sales opportunities; implementation of a new ERP system and through consistent operational improvements in manufacturing, sourcing and working capital management.

 

Bill Herkamp, CEO of Rotex, commented, “Windjammer was an excellent partner for Rotex.  Prior to Windjammer’s involvement, Rotex was a successful family-owned business, but through Windjammer’s support and guidance, today Rotex has become an even better company with a more disciplined approach focused on growth and operational excellence across all segments of the company.”  Longtime company veterans, Dick Paulsen, VP International Sales and Mark Moore, VP US Sales, also commented, “Windjammer’s expertise in working with niche-oriented, market leading middle market companies, as well as their strategic guidance and resources, were valuable to us as we expanded the business and enhanced our manufacturing operations.” 

 

Windjammer Capital Investors, with offices in Newport Beach, California and Waltham, Massachusetts, is a national private investment firm that makes control and non-control investments in leading middle market businesses in partnership with management. Founded in 1990, Windjammer manages institutional funds totaling over $1.2 billion of capital and is currently investing out of its latest fund of $575 million which was raised in 2006. In its history, Windjammer has closed on portfolio company investments with an aggregate value exceeding $7 billion.

 

If you have any questions related to this transaction, please contact Greg Bondick (781-530-9121, gbondick@windjammercapital.com) or John Donahue (781-530-9161, jdonahue@windjammercapital.com).

 

 

"We were very fortunate to have Windjammer as our partner. Their expertise in working with niche-oriented, leading companies in the middle market, as well as their strategic guidance and resources were valuable to us as we expanded the business."



Dale Schulz, CEO
ST Specialty Foods