client_transactions

SSG Client Transactions

Title

Airfloat Systems
Client Profile

Client Profile

Airfloat Systems ("Airfloat"or the "Company"), a division of DemirCo ("DemirCo") Industries LLC, designs and manufactures standard and custom material handling equipment that utilizes advanced load movement methodologies and air film technology. Airfloat produces air bearings, air skids, turntables and other material handling equipment for the automotive, water processing, aerospace and other industries.
Situation

Situation

The credit facility under which Airfloat operated was cross-collateralized by the assets of several co-borrowers on a joint and group basis. Due to losses attributed to one of the co-borrowers, the loan agreement was deemed to be in default.
Solution

Solution

SSG was engaged to explore strategic alternatives for DemirCo, its divisions and affiliates, including a full or partial sale or a restructuring. SSG assisted DemirCo in the sale of Airfloat’s assets to JLS Acquisition Group, LLC. The transaction closed in August, 2005.
August 2005
JLS Acquisition
Group, LLC
has acquired substantially all of the assets of the Airfloat Systems Division of
The undersigned acted as Investment Banker
to Airfloat Systems on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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