client_transactions

SSG Client Transactions

Title

ISE Corporation
Client Profile

Client Profile

ISE Corporation ("ISE" or the "Company") is a leading developer, integrator and distributor of hybrid-electric drive systems as well as energy storage systems specifically designed for heavy duty commercial vehicles, primarily those that make frequent starts and stops such as transit buses and heavy short-haul trucks. In the North American transit bus market, the Company is the only commercial provider of gasoline hybrid systems, a leading provider of zero-emission hybrid systems and a provider of diesel hybrid systems. Headquartered outside of San Diego, ISE has an installed base of more than 300 hybrid-electric drive systems (with approximately 14 million accumulated miles) and more than 200 energy storage systems. Transit authorities that utilize the Company's technology include those in Long Beach, Las Vegas, Chicago, San Diego, British Columbia and London.
Situation

Situation

Due to excessive warranty liabilities from legacy contracts, the Company filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of California on August 10, 2010. SSG Capital Advisors, LLC, along with Cabrillo Advisors LLC, was retained as the Company's investment banker to conduct a sale process pursuant to Section 363 of the U.S. Bankruptcy Code.
Solution

Solution

The sale process yielded six qualified bidders, each with an interest in different parts of the business. After several rounds of bidding, the business was sold as a going concern to Bluways USA, Inc., a strategic acquirer based in Belgium. The transaction closed on January 31, 2011.
January 2011
has been acquired by
Under Section 363 of the U.S. Bankruptcy Code in the U.S Bankruptcy Court for the Southern District of California.
The undersigned acted as Investment Banker to
ISE Corporation 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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