Transction Closing - Joneca
Posted on Jun 30, 2021 4:00am PDT
The Mentor Group (aka Mentor Securities), a premier M&A Advisory firm,
is pleased to announce that its client, Joneca Corporation (“Joneca”),
one of the world’s leading producers of garbage disposers, was acquired
by Lightspring Capital Partners, a renowned Midwest private equity firm
(“LCP”).
LCP’s Co-Founder Adam Pollet explains the rationale for the Joneca
acquisition: “Joneca has a rock-solid foundation and is poised for significant growth
based on its commitment to customer service, quality and innovation. Lightspring
seeks to partner with founder and family-owned businesses at inflection
points for growth, and Joneca represented a perfect fit for our strategy.
We couldn’t be more excited to partner with a proven business leader
in Ed Chavez.” Joneca Founder Ed Chavez’s thoughts are reflective
of the same sentiments: “The whole LCP team is supportive, wants
to provide a good working environment for our people, and are professional,
congenial, and enthusiastic. A good fit altogether.”
On working with Mentor during the transaction, Ed Chavez stated, “Mentor
and Justin were excellent. I was provided good advice, guidance, and support
throughout. The Mentor negotiations and dealings with LCP, helped tremendously
in not only obtaining an excellent outcome, but helped smooth the process,
which, at times (most of the time actually), was very daunting. One of
the other attributes which helped greatly was properly preparing me as
to what to expect at each step of the process. For all of that, and more,
I thank you, Justin.”
Per LCP’s Co-Founder Adam Pollet: “Justin (Mentor) was excellent
to work with from start to finish. Justin’s engagement helped navigate
through each phase of diligence and deal execution seamlessly. Justin
brought both deep knowledge and a strong relationship-based approach to
the table that was very effective. We wouldn’t hesitate to do future
deals together and would put high value on his involvement in a process.”