client_transactions

SSG Client Transactions

Title

Harvard Industries, Inc. - St. Louis Die Casting Division
Client Profile

Client Profile

The St. Louis Die Casting Division of Hayes-Albion Corporation, a wholly owned subsidiary of Harvard Industries, Inc. ('Harvard'), is a full service multi-alloy aluminum casting facility producing porosity free vessels for fuel, hydraulic and filtration systems for heavy truck and various industrial applications.
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 sale to an outside investor's newly formed entity, St. Louis Die Casting, LLC, under Section 363 of the U.S. Bankruptcy Code. The transaction closed in August 2002.
August 2002
St. Louis Die Casting, LLC
and Arnold Defense
and Electronics, LLC
has acquired substantially all of the assets of St. Louis Die Casting & Machining Division and Arnold Defense & Electronics Operation of
Hayes-Albion Corporation
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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New York
(212) 786-7432

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