Business Description:
Dearborn Mid-West Conveyor Company ("DMW") is a leading
engineering, procurement and construction company that provides custom
engineered, turn-key material handling solutions. The company has
a long and distinguished track record of over 60 years and
serves a blue-chip customer base in diversified end-markets, including
the power generation, automotive, general industrial and postal industries.
DMW’s solutions primarily include complex, highly engineered conveyor
systems, and the breadth of DMW’s capabilities in addressing these
product needs is unparalleled in the industry.
Falcon Solution:
In November 2007, Falcon, working closely with a non-traditional private equity group, helped to finance the acquisition of DMW. The transaction involved significant due diligence complexities including understanding financial results that utilized cost-of-completion accounting, a business that was somewhat tied to the ailing automotive industry, understanding and planning for the company to be carved-out from a large parent entity and the company’s significant surety bonding requirements.
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Industry:
Material handling
Sponsor:
Non-traditional private equity group
Securities:
Senior subordinated notes and preferred stock with warrants
Financing Challenge:
Carve out from parent company
Exit Date:
Current investment
Company Website:
http://www.dmwcc.com/ |