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.”