Sikich Investment Banking Leads Recent Transaction: Targus Acquisition of Sena Cases
Chicago-based firm acts as exclusive buy-side advisor to maker of the world's top-selling laptop and mobile device cases in its purchase of premium accessory maker.
Acquisition positions Targus as a leader in the smartphone case marketplace.
CHICAGO, IL Nov. 6, 2012 — Sikich Investment Banking (“Sikich”), headquartered in Chicago, today announced its most recent transaction as the exclusive buy-side advisor to Anaheim-based Targus Group International, Inc., for its purchase of Sena Cases. Targus is the maker of the world's top-selling laptop and mobile device cases and accessories, while Sena, based in Irvine, California, is a leading luxury leather designer, manufacturer, and marketer for smartphone, tablet and laptop cases. The strategic purchase of Sena strongly positions Targus as a leading provider in the smartphone case marketplace.
The Sikich team, led by Partner Rick Herbst and Director Susan Tomilo, was instrumental in exploring and evaluating potential opportunities for Targus to enhance its position and further its leadership within the rapidly-growing tablet and smartphone accessories marketplace. With its strategic transaction experience and focused approach to buy-side engagements, Sikich collaborated closely with the Targus leadership team to identify and engage with potential strategic partners on an exclusive basis. Throughout the process, including the ultimate negotiation and execution of this acquisition, Sikich partnered closely with Targus and worked to engage the Sena team, who was not looking to sell the company at the time. The addition of the Sena portfolio of products and channels effectively strengthens the Targus leadership position in the high-growth smartphone case and accessories market.
“Targus has long enjoyed strong brand awareness and recognition as a leading provider of high-quality cases and accessories for laptops and mobile devices,” said Michael Hoopis, CEO of Targus. “That said, the continued growth of smartphones and tablets, and our rapidly evolving industry, require us to explore and capitalize on great opportunities to maintain our leadership. Sikich has helped facilitate that for us with this transaction. The firm’s thoughtful guidance throughout the process made it an invaluable partner in collaborating with us at all stages throughout the process.”
“Our goal is to serve as a strategic partner with our clients and meet their needs in the ways that best enable them to achieve their business and strategic objectives,” added Herbst. “Targus holds a very strong position in the industry and this latest transaction adds to that strength and opens up new markets and channels for the company. We are pleased to have partnered with them on this endeavor.”
About Sikich Investment Banking
Based in Chicago, Sikich Investment Banking is part of Sikich LLP, a highly integrated, multidisciplinary professional services firm with more than 400 employees working out of eight offices located in Illinois, Indiana, Missouri and Colorado. Sikich Investment Banking is the Firm’s corporate finance and advisory practice, and through its wholly-owned subsidiary, Sikich Corporate Finance LLC, a registered broker-dealer and member of FINRA/SIPC, it provides capital raising, mergers and acquisitions, and strategic advisory services tailored to middle market clients in the U.S. and abroad. The Firm’s investment banking partners are known for their expertise in negotiating complicated issues and structures, and navigating through the complexities inherent in industries such as technology, life sciences, manufacturing, and others. Their strategic advisory acumen enables them to effectively guide client companies through the process of defining and honing their value proposition, understanding the competitive landscape and where they fit, and ultimately realizing maximum investment returns.. Visit the Sikich Investment Banking page at http://www.sikich.com/IB for more information.
Securities are offered through Sikich Corporate Finance LLC, a registered broker dealer with the Securities Exchange Commission and a member of FINRA/SIPC.
About Targus
Targus invented the laptop case and continues to advance the mobile accessories category with innovative and relevant solutions for today's mobile lifestyle. Targus products enhance productivity, connectivity and security, liberating users to work in any and all environments with the utmost convenience and comfort. Founded in 1983, Targus headquarters are located in Anaheim, Calif., with offices worldwide and distribution agreements in more than 100 countries.
About Sena Cases
Sena Cases™ is a leading designer and manufacturer of slim, functional, protective and luxurious genuine leather cases for today's most popular mobile devices.
Press Contact:
Michelle Spellerberg
Chief Marketing Officer
630.566.8451
MSpellerberg@sikich.com
Tags: