Started as a liquidation – ended as our newest acquisition.

– After revenues declined by 30% over two years and EBIDTA turned negative, Benda’s lender cut funding and initiated foreclosure in November 2021.

– By January 2022, most employees had been laid off, payrolls were missed, and the company was days away from permanent closure.

– Sourced as a liquidation deal, we saw value, quickly diligenced and ultimately purchased Benda as a going concern.

– We partnered with Iroquois Industrial Group to purchase the assets, and closed in February 2022.

– Secured lender enjoyed a full recovery.

– 23 jobs saved, with plans to expand into other markets and leverage synergies with our other portfolio companies.

– PPL and Iroquois also jointly own Savannah Industrial Solutions in Savannah, TN.

We held the key to saving this metal locker manufacturer.

A leading manufacturer of top-quality metal lockers and industrial storage products in Illinois was forced to declare bankruptcy despite $75M in annual revenues. We recognized their value, purchased the company out of bankruptcy, and brought on an operating partner to steer it in a new, better direction. We exited almost exactly one year later with their profits—and future—stabilized.

We stepped up to the plate to rescue this steel plate fabrication company.

A firm that fabricated steel plates for the construction, agricultural, mini-equipment and power generation industries had revenues of $40M per year. But a judgment after years of costly litigation sent them into bankruptcy. We were the winning bidder at their bankruptcy auction, and formed a new company: LB Metals, LLC. After successfully stabilizing the company, we sold our interest to a strategic buyer who is running the company today.

We unlocked the profit potential of this fastener manufacturer.

A private equity firm bought a Wisconsin-located manufacturer of fasteners and rivets serving the automotive industry. Unfortunately, the PE group began facing challenges, so we stepped in and purchased the company through a bank process. We then convinced the former management team, which had since left the company, to return. After rightsizing the business to ensure sustainability, we were approached by an international strategic buyer who purchased the business, and is operating it today.

We put the pedal to the metal in turning around this aluminum extrusion company.

An aluminum products producer located in Central Florida and with annual revenues of $100M, was facing a time of transition—its private equity owner was fatigued, leaving the company in limbo. Working with existing leadership, our sister company, Big Shoulders Capital, and our operating partner stepped in to purchase the company, secured by its considerable collateral, including real estate. At the time, the company’s EBITDA was negative. We recruited an industry leader to orchestrate a turnaround, and the company remains a profitable part of our portfolio today.

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