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| Client: |
Victor Plastics, Inc. |
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| Business: |
Victor Plastics, Inc. (“Victor” or the “Company”), headquartered in Victor, Iowa, with a presence in both Mexico and China, is a leading custom injection molder, supplying larger, highly-engineered thermoplastic components to a broad base of world-class manufacturers in the appliance, off-road vehicle, consumer products, and industrial equipment sectors. |
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| Client Objective: |
Following the sudden death of Victor’s founder and President in late 2002, his widow, the executor of his estate, engaged BGL in August 2003 to pursue a sale of the Company.
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| Results: |
BGL communicated a compelling story to the marketplace, highlighting Victor’s strengths while simultaneously acknowledging and addressing potential buyer concerns. Using vigorous financial analysis, BGL focused the marketplace on Victor’s strong growth trajectory; its steady performance through the economic downturn; and Victor’s focus on larger parts and international expansion, highlighting the Company’s ability to mitigate offshore sourcing risk and compete in a global marketplace.
After a full sale process that included leading strategic parties, in addition to a complete universe of private equity sponsors, Victor’s owner selected Spell Capital Partners as the buyer at a full valuation. BGL further demonstrated its expertise by introducing Spell Capital to several asset-based lenders, one of which ultimately provided the senior financing for the transaction on highly attractive terms. BGL closed the transaction in just over six months.
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