Fort Dearborn Partners (Fort Dearborn) is pleased to announce that Accurate Perforating Company, Inc. ("Accurate" or "the Company") has refinanced all of its senior debt with First Midwest Business Credit.

Accurate provides full service metal perforating and fabricating services for distributors, steel service centers, OEM's, fabricators, contractors and architectural and engineering service firms.

The Company experienced operating challenges, primarily due to increased growth of its lower margin business and declines in certain metal prices. Accurate was also refurbishing several pieces of equipment that required capital and led to reduced production capacity and a decline in on-time deliveries during the refurbishment period. Despite cost cutting efforts, the Company experienced declining profitability and sought the help of Fort Dearborn to assist with developing a performance improvement plan.

Fort Dearborn and management developed an operating plan and tactics to support the Company's key strategic initiatives, including increasing margins and improving plan efficiencies and on-time deliveries. Fort Dearborn and management prepared marketing materials and approached potential lenders to seek the additional capital needed to execute the operating plan.

"Fort Dearborn was a value-added advisor through the development of our operating plans and assisting the Company to choose a senior lender that will be a great partners." - Aaron Kamins, President, Accurate Perforating Company, Inc.

With improved performance, profitability and liquidity resulting from executing to its operating plan, the Company was able to secure a $10.6 million senior debt facility.

Fort Dearborn has the expertise to successfully complete transactions like Accurate by providing a comprehensive suite of consulting and investment banking services designed specifically to serve middle market companies. 

We look forward to working with you.