With headquarters in Oshkosh, Wisconsin, SNC Manufacturing Co., Inc. (“SNC”) is a premier designer and global manufacturer of electrical transformers serving blue-chip customers in defense, industrial automation, alternative power generation and energy, including electric utilities and renewable energy. Remaining family-owned since being established in 1946, SNC serves its global, blue-chip client base through its manufacturing locations in the United States, Mexico, and China. The Company is considered the “transformer specialist”, producing high-quality magnetics for a wide variety of industries. Further, SNC has developed its own branded product line of Utility Pro Products which provide high-quality, reliable electrical power solutions for temporary purposes.
As second-generation family ownership and leadership contemplated ownership liquidity and transition goals, the decision was made to retain Promontory Point Capital to explore strategic alternatives for the business. PPC’s engagement began with preparing the business for sale which included the preparation of a comprehensive Memorandum and extensive research of potential acquirers that would be attracted to SNC’s internally designed product portfolio, global manufacturing and supply chain capabilities, worldwide distribution, and committed executive team. Given the Company’s strong core competencies, PPC was able to attract significant transactional interest from a targeted group of strategic and private equity bidders.
After soliciting Letters of Intent from multiple bidders, PPC recommended moving forward with an offer proposed by Allient Inc. (formerly known as Allied Motion Technologies Inc.) Allient (Nasdaq: ALNT) is a global engineering and manufacturing enterprise that develops solutions to drive market-moving industries including aerospace, defense, industrial automation, robotics, semi-conductor, and other sectors. PPC assisted SNC in negotiating a Letter of Intent, managed the entire due diligence process, and assisted in closing the transaction. The transaction allowed for the family shareholder group to achieve its liquidity goals, while providing SNC’s executive leadership team a strategic partner to support continued growth of the business. PPC closed this sale transaction during the first quarter of 2024 representing another successful Done Deal for our firm. Read Press Release