client_transactions

SSG Client Transactions

Title

Penn Specialty Chemicals, Inc.
Client Profile

Client Profile

Founded in 1999, Penn Specialty Chemicals, Inc. ('Penn' or the 'Company') is one of the world's leading producers and marketers of furfural and furan-based fine chemicals and solvents. The Company holds a distinctive portfolio of value added, high growth products that serve a broad range of industry end uses in the pharmaceutical, agricultural chemical and industrial markets. Penn's portfolio is based on feedstock from renewable resources and includes products with environmentally friendly properties.
Situation

Situation

The Company suffered liquidity constraints due to the expiration of a significant tolling agreement and shifting political regulations in China where Penn maintains operations. These conditions impeded the Company from appropriately marketing its products and funding incremental research and development.
Solution

Solution

Penn and SSG moved quickly to explore strategic alternatives, including a sale or refinancing of the Company. After conducting a broad sale process and negotiating with several strategic and financial partners, SSG concluded that the greatest value for Penn's stakeholders would be achieved by refinancing the Company's debt. This solution also allowed Penn's stakeholders to retain equity in the Company. The restructuring and recapitalization was consummated in December 2007.
December 2007
has been acquired by
an affiliate of
The undersigned acted as Investment Banker to
Penn Specialty Chemicals, 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

Contact by E-mail »

New York
(212) 786-7432

Contact by E-mail »