client_transactions

SSG Client Transactions

Title

Harvard Industries, Inc. - Trim Trends Division
Client Profile

Client Profile

The Trim Trends Division (‘TT’) of Hayes-Albion Corporation, a wholly owned subsidiary of Harvard Industries, Inc. ('Harvard'), is a manufacturer of fabricated metallic products such as window frames, door sashes, drip rails, door intrusion beams and seat brackets. In addition, it produces transmission components, metal fans and other roll-formed, stamped, rotary cold-formed and assembled products. TT manufactures products that protect the passenger by meeting or exceeding manufacturer specifications for front, rear and side impacts.
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. 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.
Solution

Solution

SSG consummated the sale of the US assets to an outside investor's newly formed entity under Section 363 of the U.S. Bankruptcy Code and the stock of the Canadian subsidiary through a Canadian insolvency proceeding. The transaction closed in October 2002.
October 2002
has acquired substantially all of the U.S. and Canadian assets of the Trim Trends Division of Hayes-Albion Corporation
A wholly owned subsidiary of
Harvard Industries, Inc.
Under Section 363 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey
The undersigned acted as Financial Advisor 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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