animal nutrition and branded pet nutrition and supply company

$70M Revenue

Company Overview

The Company is a $100 million processor of animal specialty proteins with multiple plant operations.

The Company was acquired in a highly levered deal by a private equity firm.

Engagement Overview

The Company operated four businesses: Dairy milk replacer/animal feed ingredient processor; pet milk replacer and supply operation; fur animal feed ingredient; and, a startup salmonella chicken vaccine.

Lost its major customer, which comprised 35% of its revenue base.

Suffered through significant sales decline and incurred very serious operating losses for two years prior to our engagement.

Fort Dearborn Partners assisted management in returning the Company to profitability by reducing  headcount, consolidating two plant/distribution facilities into one and raising prices on certain key customers.

The Company completed a balance sheet restructuring that resulted in a deferral of interest payments and a change in ownership control.

Results

Fort Dearborn successfully advised the Company on the restructuring of its mezzanine debt to preferred stock and common stock.  The sub-debt holder assumed operating control of the Company as part of conversion.

FDP News

Oct - 23

Max Bechtel and Austin Curtis join Fort Dearborn Partners

Please join us in welcoming the newest members of the Fort Dearborn Team, Max Bechtel and Austin Curtis.

Read More

Apr - 23

Fort Dearborn advises Reliable Knitting Works

Fort Dearborn Partners served as the exclusive financial advisor for the refinancing of Reliable Knitting Works, a $125 Million Wisconsin-based Company.

Read More