Case Study: Wildcat

Baird Serves as Exclusive Debt Advisor on Secured Debt Financing

Bulldog / Shur-Line

“At Nova we have a small core team of senior executives, so we are highly reliant on our advisors working with us to ‘share the load’ and add value to our execution of transactions. The Baird team did exactly that on the Wildcat acquisition and financing. They accessed the credit markets more broadly than we could have done, ran an expedited and tight process and helped us negotiate attractive terms with our chosen lender. And even more importantly, their commercial experience and deep sector knowledge helped ensure that we ended up with the right lender and financing package for the needs of our business.”

David Williamson, Managing Partner, Nova Capital Management

Baird recently served as the exclusive debt advisor to Nova Wildcat Shur-Line Holdings (Wildcat), a portfolio company of Nova Capital Management Limited, on a secured debt financing in support of its merger with and acquisition of World and Main.

Wildcat is a leading provider of do-it-yourself home improvement hardware and paint accessories. The company’s Bulldog and Shur-Line products are sold through regional and national retailers, independent hardware stores and dollar stores. Wildcat was founded in 1875 and is based in St. Francis, Wisconsin.

Nova Capital Management is a pioneer in portfolio buy-outs, specializing in acquiring multiple businesses in a single transaction from corporate or financial sellers. Since its foundation in 2002, Nova has executed international transactions with a value of over $1.7 billion from offices in Chicago and London.

World and Main is a leading designer, marketer and value-added distributor of a variety of hardware, home security, plumbing, housewares and home environment products to the repair, remodel and home improvement end markets. World and Main operates internationally with locations in New Jersey, Illinois, Canada and China.

Transaction Highlights

Operating under a compressed timeline, Baird executed a highly efficient, competitive process that provided Wildcat with an optimal combination of leverage, pricing and terms to facilitate a recapitalization in conjunction with its acquisition of World and Main.
  • Baird worked closely with Wildcat’s management team and Nova Capital on all aspects of the transaction, helping to structure, arrange and negotiate the financing 
  • The transaction’s efficient marketing process generated significant interest from numerous potential lenders
  • Baird utilized impactful process tools to accelerate lender diligence 
  • Through its bespoke and competitive lender process, Baird was able to deliver an attractive financing structure that optimized leverage and offered competitive pricing and terms in the market 
  • The financing is comprised of an Asset Based revolving credit facility (ABL) and a senior term loan

Baird’s Global Investment Banking Team

Contact Baird to discuss this deal, current market dynamics and their implications for your business.

Anne-Marie Peterson

Anne-Marie Peterson
+1-646-557-2334
ampeterson@rwbaird.com

Christopher Cooper

Christopher Cooper
+1-704-553-6610
crcooper@rwbaird.com

Eric Stetler

Eric Stetler
+1-312-609-7022
estetler@rwbaird.com

Sean Dunn

Sean Dunn
+1-312-609-4962
spdunn@rwbaird.com

Other Relevant Baird-Advised Transactions

Icynene
Baird served as exclusive debt advisor to Icynene, Inc. and FFL Partners. Icynene, Inc., a portfolio company of FFL Partners, recently completed a debt financing in support of its acquisition of Lapolla Industries, Inc. The Financing consisted of a senior secured revolving credit facility and a senior term loan.
Amerock
Baird served as financial advisor to Nova Wildcat Amerock LLC. Nova Wildcat Amerock LLC, a portfolio company of Nova Capital Management Limited, recently completed a new senior debt financing, which consisted of a term loan and a revolving credit facility. Proceeds will be used to repay existing debt and fund a dividend to shareholders.
Monomoy Capital Partners
Baird served as exclusive debt advisor to Monomoy Capital Partners. Monomoy Capital Partners recently completed a secured debt financing in support of its acquisition of Klaussner Furniture Industries, Inc. The Financing consisted of a senior secured revolving credit facility and a secured term loan.

The transactions were selected for their relevance to our Global Industrial experience and do not represent all Baird transactions. View our website at rwbaird.com/investment-banking for a full list of transactions.