• After decades of revenue growth and market leadership, the Company began to face financial challenges due to pricing pressures created by a more competitive retail environment coupled with escalating product costs.
• The Company was faced with insolvency scenarios due to continuing losses in spite of efforts of a third party turnaround consultant and retained Fort Dearborn to act as exclusive financial advisor for the sale of this distressed business.
• Fort Dearborn generated interest and visits from industry and financial buyers
• Fort Dearborn’s sale process generated multiple bids
• Successful bidder increased price by 50% over initial bid and improved deal structure
• Sale of stock provided complete exit for sellers including non core real estate
• Closed within 120 days of retention.