XLS Partners advises DRIV-LOK in its sale to The Mendota Group

GCG member firm XLS Partners, Inc., an independent investment banking firm providing M&A advisory, capital raising and debt advisory services, is pleased to announce that its client, DRIV-LOK, has been acquired by The Mendota Group, in partnership with Capital for Business and Konza Valley Capital, Inc. (KVCI).

DRIV-LOK is the preferred brand for the broadest range of press-fit fastening and joining components for the leading OEMs and fastener distributors. Founded in 1936, DRIV- LOK manufactures over 2,000 SKUs comprising spring pins, grooved pins, dowel pins, barbed pins and more, and specializes in manufacturing engineered, application-specific ‘specials’ as well as standard parts through stocking distributors. With more offerings than any other press-fit fastener manufacturer, DRIV-LOK offers customers flexibility without bias on the best fastening solution. DRIV-LOK is headquartered in Sycamore, Illinois.

The Mendota Group, based in Madison, Wisconsin, focuses on private investments to support ownership transition and growth opportunities. The Mendota Group acquired DRIV-LOK in partnership with St. Louis-based Capital for Business and Kansas City-based KVCI.

‘XLS’s in-depth understanding of our business combined with its wellexecuted process, marketing efforts and fastener industry experience allowed them to share our story with great results,’ said Gary Seegers, DRIV-LOK CEO. ‘We are proud of all that the DRIV-LOK team has achieved and are excited to have found the right partners to build upon that success going forward.’

‘DRIV-LOK is a highly regarded brand in a niche market with a nearly 80-year history,’ stated Anthony Contaldo, Partner of XLS. ‘We were seeking a strategic acquirer that understands the fastener space and was committed to supporting DRIV- LOK’s existing management team in continuing the strong growth trajectory, all the while preserving the Company’s unique corporate culture. The Mendota Group and their financial partners were a great fit in every respect.’

XLS acted as the exclusive M&A advisor to DRIV-LOK and the transaction was led by Anthony Contaldo, Partner. The transaction was completed 27 July, 2018 and marks the tenth recent fastener and industrial supply industry transaction for the firm. Click here for more information on XLS’s fastener industry expertise.

About The Mendota Group

The Mendota Group is a private investment firm that targets Midwest US-based investments in low to medium technology manufacturing, distribution and service related companies. The Mendota Group is based in Madison, Wisconsin.

About Capital for Business

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least USD 8 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the US. CFB was founded in 1959 and is headquartered in St. Louis, Missouri.

About Konza Valley Capital, Inc.

KVCI, based in Kansas City, Missouri is a private equity, venture capital, and mezzanine investment firm specializing in Midwest based, small, lower middle market and mature companies. KVCI seeks to invest in later-stage expansion financings and participates in acquisitions, ownership transitions, management buyouts, turnarounds and recapitalizations.

About XLS Partners

XLS Partners, Inc. is an independent investment banking firm that provides M&A advisory, capital raising and debt advisory for select clients globally. Middle market companies and private equity funds rely on our creative solutions, thoughtful insight and truthful advice when considering exiting their companies, making strategic acquisitions, partnering with private equity sponsors and raising debt or equity capital.

 

Anthony Contaldo

XLS° Partners, Inc.
Corporate Finance
Chicago (IL), USA
T: +1 847 836 7035
W: www.xlspartners.com
Anthony Contaldo
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