client_transactions

SSG Client Transactions

Title

Bridgeport Machines, Inc.
Client Profile

Client Profile

Bridgeport Machines, Inc. is a leading manufacturer of metal cutting machine tools, such as manual and CNC machining centers, milling machines and lathes. Since its establishment in 1938, Bridgeport has become one of the most recognized industrial brands in the world. The Company is based in Bridgeport, Connecticut, with European headquarters in Leicester, England. There are additional manufacturing facilities in Kempten, Germany and Elgin, Illinois.
Situation

Situation

The global recession in the manufacturing economy in 2001 and 2002 and the related dramatic deterioration in the demand for capital equipment worldwide resulted in a substantial decline in Bridgeport sales, resulting in the Company filing for protection under Chapter 11 of the U.S. Bankruptcy Code.
Solution

Solution

SSG was retained in March 2002 to sell Bridgeport and quickly went to market to solicit offers for all or parts of the business. A Section 363 auction was held in July 2002 with five participants involved in the bidding. A subsidiary of American Capital Strategies was ultimately deemed the highest and best bidder. The transaction closed in September 2002.
September 2002
BPT Holdings
A subsidiary of
has acquired certain assets of
The undersigned acted as Investment Banker to Bridgeport Machines, Inc., Harig Products Division
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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(212) 786-7432

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