LOS ANGELES, July 23, 2012 /PRNewswire/ — Intrepid Investment Bankers LLC (“Intrepid”), a leading middle market investment banking firm, today announced the sale of Shercon, Inc. (“Shercon”) to Protective Industries, Inc. (“Caplugs”) and Windjammer Capital Investors (“Windjammer”). The transaction closed on April 30, 2012. Intrepid acted as the exclusive M&A advisor to Shercon in connection with the transaction.

Shercon, headquartered in Cypress, California with wholly owned manufacturing operations in Hangzhou, China and a distribution center in Louisville, Kentucky, is the largest independent provider of standard and custom die cuts and molded rubber masking solutions, including caps, plugs, tapes, die cut maskings and complex rubber maskings, used to protect selected surfaces during industrial finishing processes. Shercon is also a leading manufacturer of niche industrial rubber products for OEMs across industries.

Caplugs is a leader in the product protection industry, manufacturing caps, plugs, tubing, containers, edge liners, fasteners, netting, and masking products. Caplug’s protective closures are used in a wide range of industries and are critical to its customers throughout manufacturing, transportation and storage. Caplugs operates through a global footprint of four manufacturing and distribution facilities strategically located on the East and West coasts of the United States and in China. Caplugs specializes in injection molding, vinyl-dip molding and plastic extrusion, producing approximately 2 billion pieces per year.

Windjammer Capital Investors is a national private investment firm that makes control and non-control investments in leading middle market businesses in partnership with management. Founded in 1990, Windjammer’s institutional funds total over $1.8 billion of capital and the firm is currently investing out of its 2012 fund, Windjammer Senior Equity Fund IV.

“This is an exciting next step in Shercon’s future and we are delighted to partner with Caplugs and Windjammer,” said Keith Ennis, CEO of Shercon. “Intrepid’s diligence in understanding the business and excellent control of the process made the sale efficient and helped us meet all of our objectives and goals.”

Jim Freedman, Managing Director of Intrepid, commented, “We were honored to work with Keith and his team. Intrepid ran a robust process that attracted a large number of financial and strategic bidders. Windjammer and Caplugs were ultimately selected as the winning bidder as they provided the highest value and strategic benefits to Shercon.”

The Intrepid team included Jim Freedman, Jeremiah Mann, Brian Levin and Zachary Browning.

About Intrepid Investment Bankers LLC
Intrepid Investment Bankers LLC, based in Los Angeles, California, is a mergers and acquisitions and corporate finance advisory firm focused on the middle-market. Intrepid was founded in 2010 by the former principals of Barrington Associates, a firm that grew to become a leading national middle market M&A advisor before its acquisition by Wells Fargo in 2006. Intrepid’s services include M&A advisory, equity and debt capital raising and providing strategic advice in complex securities transactions. The firm focuses on the middle market corporate finance needs of entrepreneur and family-owned businesses, private equity sponsors and major corporations. Collectively, the senior team at Intrepid brings over 150 years of mergers and acquisitions advisory experience and has advised on over 250 transactions spanning a broad range of industries, including consumer products and services, industrial manufacturing, healthcare products and services, building products, business services and retail. www.intrepidib.com Member FINRA/SIPC.

SOURCE Intrepid Investment Bankers LLC