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| Client: |
Syron Engineering & Manufacturing, LLC ("Syron" or the "Company") |
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| Business: |
Syron is the world’s leading provider of transfer automation tooling solutions that optimize the efficiency of high volume metal stamping presses utilized by automobile manufacturers and their Tier-1 and Tier-2 suppliers. Syron's innovative, high value-added solutions help its customers achieve significant gains in manufacturing productivity. |
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| Client Objective: |
Syron was acquired by Cedar Creek Partners and management in 1998. In 2000, Syron acquired Erie Automation and Erie Engineering with equity financing provided by Cedar Creek Partners and management, and subordinated debt financing provided by Midwest Mezzanine, a subsidiary of ABN AMRO Bank N.V. Seeking a liquidity event, the owners engaged BGL to sell the Company.
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| Results: |
Although Syron has developed some of the most advanced transfer automation tooling solutions in the world, the vast majority of the Company’s sales are in North America. In order to capitalize on the large global market for the Company’s productivity solutions, BGL approached a targeted group of strategic and financial buyers with the desire and ability to help the Company expand its operations both domestically and internationally. In addition, BGL was able to effectively communicate the considerable value of Syron’s productivity solutions and successfully differentiate the Company from capital equipment and component suppliers serving the automotive market. As a result of marketing the value of Syron’s proprietary solutions on an international basis, BGL was able to generate significant global interest in the Company which culminated in the purchase by UK-based IMI.
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