Bunker Hill Capital Acquires Dyno Holdco, LLC

BOSTON--()--Bunker Hill Capital, a Boston based private equity firm, announced today that it has acquired Dyno Holdco, LLC (“Dyno” or the “Company”), the exclusive licensee of the Singer brand for sewing accessories and one of the largest producers and marketers of holiday decorative home products in North America from TG Capital Corp. The exclusive license enables Dyno to sell a large and diverse portfolio of sewing products, including cutting instruments, fasteners, needles, thread and a wide variety of other sewing related notions and accessories from an iconic sewing and craft brand. Dyno’s sewing business is complemented by its holiday decorative home products that include holiday-oriented home décor, holiday decorations and ornaments, tree stands, decorative bows, light-hanging accessories and storage solutions. Like its sewing products, a portion of Dyno’s holiday products are marketed under proprietary or licensed brands, or are protected by product design patents. Jim Moynihan, CEO of Dyno, stated that, “We are excited about the opportunity to partner with Bunker Hill Capital to continue to grow the company's diverse portfolio of sewing, craft and holiday products. The management team believes that Bunker Hill Capital provides the company with extensive strategic expertise that will accelerate our growth both domestically and internationally. Importantly, we share a common vision of becoming the market leader in each of our core businesses.”

Headquartered in Pompano Beach, FL, and with offices in Chicago, IL and Hong Kong, Dyno has achieved strong revenue and earnings growth driven by its Singer license and expansion into new holiday product categories both organically and through acquisition. Mark DeBlois, a Managing Partner of Bunker Hill Capital, said, “Dyno’s two major product categories sell to a substantially similar demographic mix of consumers at recession resistant price points and offer both organic and acquisitive growth opportunities. We are excited to partner with Jim Moynihan and his team.”

Dyno sells to over 50,000 retail locations across nearly every major sales channel in North America. Customers include major food, drug and mass retailers, home improvement/DIY retailers, fabric and craft retailers and wholesale clubs, such as Walmart, Jo-Ann, Lowe’s, Walgreens, Target, CVS, The Home Depot, Kmart, Kroger and Canadian Tire. Jared Paquette, a Principal at Bunker Hill Capital, commented, “The Dyno management team has done an excellent job in building a well-diversified products platform across multiple sales channels and two complementary product categories, providing a strong foundation for future growth.”

Bunker Hill Capital’s investment was the first investment from its second fund. Bunker Hill Capital owns a majority and controlling interest in Dyno and was joined in the transaction with equity and subordinated debt investments from management and The Hartford Investment Management Company, and senior debt was provided by SunTrust Bank.

About Dyno

Founded in 1953, Dyno is the exclusive licensee of the Singer brand for sewing accessories and one of the largest producers and marketers of sewing products in North America. The exclusive license enables Dyno to sell a large and diverse portfolio of sewing products, including cutting instruments, fasteners, needles, thread and a wide variety of other sewing related notions and accessories. Dyno’s sewing business is complemented by its holiday decorative home products that include holiday-oriented home décor, holiday decorations and ornaments, tree stands, decorative bows, light-hanging accessories and storage solutions.

About Bunker Hill Capital

Bunker Hill Capital is a private equity firm that makes investments in lower middle market companies with enterprise values up to $120 million. The principals of Bunker Hill Capital have invested over $450 million in 31 transactions and target opportunities across four industry sectors including industrial products, business services, consumer products and specialty retail. Bunker Hill Capital’s current portfolio company investments include California Family Fitness, the leading owner and operator of fitness centers in the greater Sacramento, CA area; Papa Gino’s/D’Angelo, a dominant quick service restaurant operator in New England; Smith & Wollensky, a premier steakhouse concept in the United States; SunBriteTV, the world’s leading designer, manufacturer and supplier of all-weather outdoor televisions and related accessories; and IT Consulting Services Holdings, a leading SAP services firm. For more information on Bunker Hill Capital, please visit www.bunkerhillcapital.com.

Contacts

Bunker Hill Capital
Mark H. DeBlois, 617-720-4032
Managing Partner
or
Jared B. Paquette, 617-398-5513
Principal

Release Summary

Bunker Hill Capital, a Boston based private equity firm, announced today that it has acquired Dyno Holdco, LLC (“Dyno” or the “Company”), the exclusive licensee of the Singer brand for sewing

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Contacts

Bunker Hill Capital
Mark H. DeBlois, 617-720-4032
Managing Partner
or
Jared B. Paquette, 617-398-5513
Principal