Hussey Copper, Ltd.

Client Profile
Hussey Copper, Ltd. (‘Hussey’ or ‘the Company’) is a fully integrated brass mill, which primarily manufactures flat rolled copper products. The Company’s product line is divided into three core areas: copper sheet and plate, copper bar ‘bus bar’, and copper strip. Unlike most brass mills, Hussey focuses predominantly on copper products, rather than copper alloy or brass products.
Situation
Despite strong sales in FY2000, Hussey’s financial results were negatively impacted by a shortage in raw material driven by the US coinage program, consolidation within the industry and several non-recurring expenses items. Further, an unexpected and marked slowdown in the telecommunications market beginning in the early months of 2001 and continuing through the balance of the year delayed the expected financial recovery from FY2000.
Solution
Following pressure from the Company’s senior lenders, Hussey engaged SSG Capital Advisors to refinance the existing credit facilities. In conjunction with a simultaneous merger with a sister company, Hussey Fabricated Products, SSG successfully placed the senior credit facilities with a two member bank group.