Bennett Tool & Die Company, Inc.
- The Lenox Group served as exclusive financial advisor to Bennett Tool and Die Company, Inc. (“Bennett” or the “Company”) on its sale to a consortium of private equity funds including Kansas Venture Capital, Capital for Business, Jefferson Capital Partners and InvestAmerica (“Investors”).
- Bennett, headquartered in Nashville, Tennessee, is a contract tooling and metal stamping supplier serving the locomotive, electrical, appliance, watercraft and ATV industries. The Company provides its customers with part design consultation, prototyping, design and build of metal stamping dies, production stamping, welding, assembly, testing and machining.
- Founded in 1951, Bennett was run for over 50 years by Eli Bennett who took over from his father at the age of 24. At the time of the Lenox engagement, the third generation, led by Yvonne Leggett, was managing the Company and wished to continue in their current roles post-transaction.
- Bennett retained The Lenox Group seeking liquidity alternatives and a solution to the divergent interests of its shareholders. The second generation owners were looking forward to retirement while the third generation wished to remain active in the business. The Bennett legacy was important to the family as were the employees who helped to make the business a success. Lenox was tasked with finding a buyer that would fully appreciate these concerns.
- The Lenox Group negotiated the sale of the Company, including the real estate associated with the business, as well as managed the process. Due to extensive experience assisting family-owned companies, Lenox was able to guide the Bennett family through important strategic and shareholder decisions and determine a solution that satisfied all parties.
- Due to the competitive process, Lenox was able to create additional value for the shareholders. The Company is better positioned to move further into untapped markets and develop new product lines with ample capital available. Management was able to continue their important role in the Company post-closing and assist the investors in continuing to grow the Company.