client_transactions

SSG Client Transactions

Title

Harvard Industries Inc. - The Rock Valley Machining Division
Client Profile

Client Profile

The Rock Valley Machining Division of Hayes-Albion Corporation, a wholly owned subsidiary of Harvard Industries, Inc. ('Harvard'), produces ultra-precise shafts for use in industrial applications including various engines and power generation.
Situation

Situation

The decrease in automotive production volumes in the late 2001, coupled with certain legacy liabilities, adversely affected Harvard's borrowing base, revenue and cash flow, causing Harvard to file for protection under Chapter 11 of the U.S. Bankruptcy Code.
Solution

Solution

Harvard retained SSG in January 2002 to sell the Company as a whole or by division, in order to maximize the value to secured creditors. SSG consummated the sales with a newly formed entity, Total Component Solutions, Inc., which consists of current management and outside investors under Section 363 of the U.S. Bankruptcy Code. The transaction closed in July 2002.
July 2002
has acquired substantially all of the assets of the Rock Valley Machining Division of Hayes-Albion Corporation, a wholly owned subsidiary of Harvard Industries, Inc.
The undersigned acted as Investment Banker to
Harvard Industries, Inc. 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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