The Company was a leading manufacturer of power transmission components & assemblies (i.e., highly engineered pulleys, sprockets, gears, pinions, spindle & steering gear assemblies, etc.) to large OEMs in a variety of industries, including lawn & garden, other outdoor power equipment, fitness, agricultural, conveyors and overhead doors.
The Company experienced significant financial and operational challenges. Ownership engaged FDP to serve as financial advisor to represent the Company for sale.
FDP prepared marketing materials and a buyer’s list and reached out to several industry participants.
The process yielded numerous site visits and management meetings that produced multiple offers.
Fort Dearborn also guided Company management through the detailed due diligence process for multiple potential buyers.
The sale closed within four months from the date of the sale mandate. In addition to our investment banking role, Fort Dearborn provided extensive cash management, vendor management and profit improvement consulting services.
The Company was ultimately sold through a Receivership and yielded 100% recovery to the Company’s senior lender with a significant distribution to unsecured creditors that was beyond expectations.