Case Study

Lynx Grills, Inc.

When I first joined Lynx, I was impressed with Century Park’s focus on developing a working relationship with management based on trust, support, and guidance. It’s a formula that really helps small and mid-sized companies remain efficient and focused through periods of rapid growth as well as periods of economic challenge.

Mike Doyle

CFO, Lynx Grills, Inc.

Overview

Lynx Grills, Inc. is a leading manufacturer of superior-quality, high-performance outdoor kitchen products. Lynx’s products include a selection of premium stainless steel barbeque grills sold under the Lynx brand as well as complementary cooking, storage, refrigeration and food preparation accessories.

Highlights

  • High quality reputation
  • Numerous growth opportunities
  • Management team with track record of success

Details

Headquarters – Downey, California
President & CEO – James Buch
Industry – Consumer Products
Website – lynxgrills.com

The Situation

Lynx, a niche manufacturer of premium stainless steel outdoor kitchen products based in Southern California, was owned by private individuals seeking to exit their investment. The Company had been quite successful at creating high-quality, industry-leading products, but was constrained by substantial organizational and operational deficiencies. While the owners had been able to stabilize the business, they realized that Lynx needed a more experienced team of investors and managers to take it to the next level and launch the Company on a trajectory of sustained growth.

How We Helped

Century Park had a longstanding relationship with an operating executive who initially brought the Lynx opportunity to Century Park’s attention. Century Park carefully identified key opportunities for Lynx with respect to improving revenues and increasing operational efficiencies. Based on this work, the operating executive decided to co-invest in the transaction alongside Century Park and subsequently joined the Lynx Board of Directors upon closing.

Century Park negotiated directly with Lynx’s owners and successfully structured the purchase of 100% of the Company’s equity, foregoing a traditional investment banker-driven auction process. Century Park listened to the goals and wishes of the existing management team and crafted agreements with many of these Lynx team members to allow them to keep their roles with the Company. Century Park also created an option pool for management to allow key members of the Lynx team to participate in the Company’s continued success.

The Result

As soon as the transaction was consummated, Century Park began implementing critical initiatives with the help and advice of management. The actions strengthened Lynx’s position in their industry and helped build the foundation for the next level of growth, resulting in a highly successful ultimate exit to a strategic buyer. Some of the key steps taken under Century Park’s leadership include:

  • Recruited James Buch as CEO. Mr. Buch brought with him a wealth of operating and strategic knowledge and over 35 years of leadership experience in the consumer products space.
  • Recruited and hired a CFO with significant experience in financial sponsor-backed situations.
  • Developed and implemented numerous operational, purchasing, systems and flow improvements with the help of management and outside consultants.
  • Reorganized the sales team and strategy to more effectively address all relevant geographic markets in the United States and expand the markets historically served by the Company.
  • Encouraged the Company to develop new products which were extensions of the existing line and natural complements to the Company’s core competencies—resulting in the creation of groundbreaking products and technologies.
  • Implemented a management incentive stock plan for existing and new management.