Case Study: Dimex Corp. - Staged Liquidity Transaction
Situation
- Dimex Corporation, headquartered in Marietta, Ohio, is a highly profitable plastics extrusion business with a sophisticated raw material supply capability that involves reprocessing off-spec and scrap plastic material for use in its own extrusion operation and for resale in the marketplace.
Objective
- Shareholders sought to monetize a significant portion of their ownership interest to diversify their investment holdings, while still retaining operational control and a minority interest in the business in addition to securing a financial partner to help fund continued strong growth.
Solution
- Matrix contacted 114 financial buyers and 7 strategic buyers.
- 66 Confidential Information Memoranda were distributed to interested parties.
- 34 Indications of Interest were received, representing a response rate of better than 50%
- After a four round auction process, the shareholders selected Brookside International to complete the recapitalization at a premium valuation level.
