woodworking cabinet manufacturer

$30M Revenue

Company Overview

The Company was a manufacturer of bathroom vanities, medicine cabinets and lighting fixtures with 95% of its product sold to two customers.

Engagement Overview

One of the two primary customers notified the Company that its business was being transferred to another manufacturer, resulting in a loss of approximately half of the Company’s revenue.

FDP and management developed a turnaround plan to reduce costs and sell its current facility.

The current facility had significant appreciation in value and allowed the Company to move to another, better-suited manufacturing facility, while recapitalizing the business.

Additionally, FDP worked with management to pursue the kitchen business segment which provided much better margins and significant growth opportunities.

Results

Overall, FDP summarized the turnaround strategies in a financial forecasting model that the Company successfully used during discussions with their bank, and as a blueprint to manage their business on an ongoing basis.

FDP News

May - 21

Fort Dearborn Advises Kanaflex Corporation, USA

Kanaflex Corporation USA (“Kanaflex” or the “Company”) is an industrial hose manufacturer with operations in Vernon Hills (IL), Compton (CA), and... Read More

Feb - 21

2020 Year in Review

Chicago, IL - Despite the rollercoaster ride that was 2020, we at FDP are proud to say that, thanks to our resilient and trusting clients, hard-working and talented staff,... Read More

Sep - 20

Fort Dearborn Advises Motor Distributor

Fort Dearborn Partners served as a financial advisor for the refinancing of a $3.5M Line of Credit and $2.2M mortgage for a $20 million Illinois-based motor distributor coming... Read More