The Company is a material handling equipment dealership with operating branches in Wisconsin and Illinois. The Company sells new and used equipment and parts and provides equipment maintenance and repair services and short-term rental to manufacturing and distribution companies.

While the Company maintained market share during the past three years, it had experienced a sales and profitability decline consistent with industry trends.

Significant actions were implemented, prior to the retention of Fort Dearborn, to reduce operating expenses and improve profitability. However, the sales downturn, coupled with several facility expansions, caused significant cash flow pressures and left insufficient capital for future growth.  

FDP played a vital role in assisting management in the development of a formal operating plan, identification of cost reductions and profit improvement initiatives, improvement in monthly accounting and reporting, and development of a long-term forecast, all of which were crucial in positioning the Company for refinancing.

Fort Dearborn also assisted in the reduction of interest-bearing debt through the sale of real estate and improved working capital management.

With the assistance of Fort Dearborn, the Company completed a favorable refinancing of its line of credit and term debt, providing additional liquidity and access to growth capital.

Management is confident that the new financing structure will enable the Company to continue to profitably pursue its mission.