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| Client: |
Valley City Steel |
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| Purchaser: |
A Joint Venture Among Viking Industries and Worthington Industries (NYSE: WOR) |
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| Business: |
Headquartered in Cleveland, Ohio, Valley City Steel is a steel service center with slitting, edge trimming and pickling lines. |
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| Results: |
Valley City Steel filed for protection under Chapter 11 of the U.S. Bankruptcy Code in 2002. BGL identified two potential acquirers for this underperforming company and successfully created a competitive environment. However, more importantly, BGL was able to put together transaction structures that supported the goals of various constituents around the negotiatiing table. Ultimately, we presented two different workable proposals from which to choose. |
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