client_transactions

SSG Client Transactions

Title

Wolverine Tube, Inc.
Client Profile

Client Profile

Wolverine Tube, Inc. (“Wolverine” or the “Company”), headquartered in Huntsville, AL, is a global manufacturer of copper and copper alloy tube, fabricated products and metal joining products. The Company is the premier provider of proprietary custom-engineered components for thermal management solutions serving a wide range of markets, including HVAC, refrigeration and appliance, electronics cooling, power generation and petrochemicals and chemical processing. The Company has five manufacturing facilities throughout the United States, China and Portugal as well as a distribution facility in The Netherlands.
Situation

Situation

A steep rise in the prices of copper, silver and other metals that are core to Wolverine’s business model significantly constrained the Company’s liquidity and impacted its ability to service its existing indebtedness. The Company filed for bankruptcy protection in November 2010 in the U.S. Bankruptcy Court for the District of Delaware.
Solution

Solution

During the course of the case, SSG provided various services to support the proposed plan of reorganization, which included providing an enterprise valuation of both the domestic and international business segments, conducting various feasibility analyses related to the distressed termination of the Company’s underfunded pension plan with the Pension Benefit Guaranty Corporation and providing expert testimony in support of Wolverine’s Plan. The Plan of Reorganization was confirmed in June 2011.
June 2011
has reorganized
Under a Plan of Reorganization in the U.S. Bankruptcy Court for the District of Delaware.
The undersigned acted as Investment Banker
to Wolverine Tube, Inc.

Call to learn more

Call to learn more

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(610) 940-1094

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(212) 786-7432

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