KYOTO, Japan - Kyocera Corporation announced that it has acquired 100 percent ownership of fastener and tool manufacturer Senco Holdings, Inc., based in Cincinnati, Ohio, as of August 7. Senco was owned by Wynnchurch Capital. The enterprise has been renamed Kyocera Senco Industrial Tools, Inc.
Founded in 1948 and headquartered in Cincinnati, Ohio, Senco is a designer, manufacturer and distributor of fasteners and tools for the powered fastening industry. With 569 employees Senco's products include branded fastening tools and collated staples, nails and screws which are available in more than 40 countries.
Senco is a market leader in wood-to-wood, drywall, steel and concrete applications. The Company operates a domestic manufacturing facility in Cincinnati and also has a significant international presence in Europe. Wynnchurch acquired Senco in July of 2009.s.
Senco’s manufacturing and marketing are concentrated in the U.S. and Europe. Lincoln International, a mid-market investment bank, says it represented Wynnchurch Capital in the sale.
Lincoln acted as the exclusive investment banking representative for Wynnchurch and Senco in this transaction, working closely with the Company's management team throughout the sale process. This included managing the preparatory, marketing and diligence phases of the process. "Lincoln was a valued partner throughout the transaction," said Frank Hayes, Co-Managing Partner, of Wynnchurch. "Their extensive experience in the building products industry proved invaluable as they managed a disciplined process that produced a great outcome."
Kyocera entered the industrial tools market in the 1970s with a line of high-speed metal processing tools, and has steadily expanded into precision tools for electronics, aerospace, automotive, medical and woodworking applications. Kyocera’s 2011 acquisition of the Unimerco Group in Europe (now Kyocera Unimerco) added a fastening tool product line that promises synergies with Senco’s longstanding expertise in the fastening tools and fasteners market.
With the acquisition of Senco, Kyocera plans to increase its sales of fastening tools and fasteners to JPY40 billion (about $361 million) by the fiscal year ending March 31, 2021.
Kyocera Corporation, the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of cutting tools, electronic devices, semiconductor packages, printers, copiers, mobile phones, solar power generating systems and industrial components.
During the year ended March 31, 2017, the company’s consolidated net sales totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera appears on the “Top 100 Global Innovators” list by Clarivate Analytics and is ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the world’s largest publicly traded companies. Kyocera Cutting Tools www.kyoceraprecisiontools.com serve the electronics market. Unimerco wood products fasteners are sold in Europe: www.tjep.co.uk/