commercial millwork firm

$21M Revenue

Company Overview

The Company is a premier commercial millwork firm providing engineering, design, production and installation services.

The Company operates from 3 facilities in the US.  Architectural Arts has 2 facilities located in Des Moines, IA and Emmetsburg, IA.  All-American Millwork and Fabrication operates one facility located in Hardin County, TN.  The Company employs more than 400 employees.

Engagement Overview

FDP was engaged by the Company to prepare a 13-week cash flow forecast model and assess the short-term liquidity needs of the Company.

In reviewing the customer base and outstanding trade receivables, FDP identified nearly $1.8 million of improper billings that materially misstated the financial statements and borrowing base certifications provided to the Company’s senior lender.

These discoveries led to further detailed work which uncovered a significant amount of personal expenses being charged to the Company’s credit cards

Once corrected, the Company was significant over-advanced on its line of credit with the senior lender.  As a result, ownership injected additional capital into the Company to provide liquidity.

Additionally, FDP implemented significant price increases providing as well as stretching the vendor base to provide additional liquidity.

The senior lender ultimately exited the relationship without incurring a loan loss.


FDP identified and corrected material misstatements in the Company’s financial reporting.

FDP identified significant short-term liquidity improvements stabilizing the Company.

The senior lender ultimately exited the credit without incurring a loan loss despite the significant over-advance.

FDP News

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

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.

Read More

Sep - 22

Bears Win Season Opener!

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

Read More