Miller Centrifugal Casting Company, Inc.

Client Profile
Miller Centrifugal Casting (‘MCC’ or the ‘Company’), a subsidiary of AG Industries, Inc. (‘AGi’), is a foundry specializing in the design, casting and finish machining of high grade, centrifugally cast ferrous and non-ferrous products, such as rolling mill sleeves and worm gear blanks.
Situation
Adverse industry conditions for MCC’s steel mill customer base, as well as steel-related issues at MCC’s parent, forced AGi to file for protection under Chapter 11 of the U.S. Bankruptcy Code.
Solution
SSG was retained in December 2001 to sell AGi, including MCC, in order to maximize the value to secured creditors. Upon the selection of a platform bidder and subsequent 363 sale, MCC was sold to an entity formed by Wilder Deem and Birchmere Capital, LP.