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 - 22

Alice Chan joins Fort Dearborn Partners

Fort Dearborn Partners is pleased to announce that Alice Chan has joined our firm as a Director.

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Sep - 22

Bears Win Season Opener!

Not even the worst flooding in 2 years could stop the Bears from winning their season opener.

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Jun - 22

Fort Dearborn advises HF Foods Group, Inc. - Sealand Food, Inc.

Fort Dearborn Partners (FDP) is pleased to announce we served as sole financial advisor to HF Foods Group, Inc. (NASDAQ:HFFG) in its transaction with Sealand Food, Inc.

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