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SSG Client Transactions

Title

Spectral Response, LLC
Client Profile

Client Profile

Spectral Response, LLC (“Spectral” or the “Company”) operates as an electronic manufacturing services (“EMS”) company that specializes in contract manufacturing of circuit boards and electric components for various commercial and industrial applications. Headquartered in Lawrenceville, GA, the Company has a proven track record of providing high quality products and services to a diverse group of industries. Spectral complements its unique EMS services with strong engineering support, flexible supply chain management, quality process controls, customized program management and a lean manufacturing culture.
Situation

Situation

While Spectral historically operated profitably, the Company’s top line was negatively affected in recent times by the loss of a key customer relationship. Furthermore, gross margins were pressured due to industry related volume declines and the lowering of purchase discounts by key vendors. The combination of reduced revenue and gross margins resulted in considerable liquidity constraints.
Solution

Solution

SSG was retained in November 2013 as Spectral’s exclusive investment banker to explore a sale of substantially all of the Company’s assets. SSG conducted a comprehensive marketing process which resulted in a wide range of potential buyers, including multiple strategic and financial parties interested in purchasing the Company as a going concern. Hunter Technology Corp., a strategic buyer based in Milpitas, California, submitted an offer that maximized the value of the business and provided the Company with the long term support and liquidity to facilitate its future growth. SSG successfully negotiated and closed the sale through Article 9 of the Uniform Commercial Code. SSG’s experience identifying buyers and running an expedited sales process enabled the Company to continue as a going concern while preserving the jobs for the majority of Spectral’s employees. The sale closed in March 2014.
March 2014
has sold substantially all of its assets to
Through Article 9 of the Uniform Commercial Code.
The undersigned acted as Investment Banker to Spectral Response, LLC.

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