Tier I Automotive Company

Company Overview


Tier I Automotive Company - This Company specializes in the production of insert and composite plastic injection molded parts primarily for the automotive, computer, and electronics industries.  The Company also produces end-item assemblies for the automotive industry.


Engagement Overview

The Company retained Fort Dearborn to develop an operating plan, identify and implement profit improvement initiatives, and secure new financing.
  

With Fort Dearborn’s assistance, the Company successfully:

•  outsourced production of component parts overseas
•  completed a reduction in force, and
•  reduced operating expenses in its Mexican plant 

These improvements generated $1.5 million in annual savings and returned the Company to profitability.

Fort Dearborn’s industry expertise in the automotive sector and deep operating experience enabled the financing transaction to be completed expeditiously and on favorable terms.  The entire assignment, from identifying and implementing operating improvements to completing the financing, was accomplished within 120 days of Fort Dearborn being retained.

Results
•  Identified and implemented over $1.5M in savings and returned the company to profitability.

•  Secured a $16 million credit facility for the Company, which provided $2 million of additional availability.