The Company was a chemical manufacturer with locations in New York, Georgia, Brussels, South Africa and Thailand. The Company produced chemicals primarily for photographic and cleaning purposes.

The Company was taken private (former public company) by a private equity firm. The transaction resulted in a highly leveraged balance sheet.

Fort Dearborn assisted in the negotiations with both the mezzanine and senior lenders:

–Successfully restructured mezzanine cash interest rate from 12% current to 4% current with 8% as paid-in-kind; and

–Negotiated additional line of credit availability from senior lender, coupled with additional capital from the private equity group.

Fort Dearborn assisted in the negotiations with a strategic buyer of a business segment:

–Successfully resulted in sale of assets; and

–Proceeds were used to reduce debt.

Fort Dearborn assisted the Company in a working capital reduction initiative, resulting in significantly lower inventory levels.

FDP assisted the Company in reducing the cash flow payments to the mezzanine lender, resulting in greater availability.