The ancient Bering Land Bridge over which the earliest North American settlers crossed 11,000 years ago. Their understanding of how the world was changing, as well as the creativity and confidence they had to act on that insight, are values that we embrace today.
When exiting from a business, management undergoes a period of intense financial scrutiny from outside parties. Good financial advisors know the business as well or better than the owner, in order to reap the fairest valuation, maintain the integrity of the owner's equity investment and head off potential problems in the sale process. Personal feelings connected with selling a family business, in particular, can also complicate the transaction.
Beringea understands the delicacies connected with selling a business or unit, and will protect the seller while seeking the fairest and more agreeable outcome.
Select Divesture Transactions:
(click on a company name for transaction details)
| Client | Collins & Aikman |
| Geographic Location | Troy, Michigan |
| Industry/Sector | Automotive Supply |
| Transaction Type | Divestiture |
| Business Description | Collins & Aikman was one of the largest U.S. auto suppliers, with providing automotive flooring, fabric and instrument panels to all the Big Three automakers as well as Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. |
| Deal Summary | Beringea served as financial advisor to Tier One automotive supplier Collins & Aikman (C&A) in the sale of its U.S. Exterior Plastics business unit to Flex-N-Gate. The July 2007 divestiture was part of Collins & Aikman's larger bankruptcy proceeding, resulting in the dismantling of the multi-billion dollar company. |
| Revenue | Undisclosed |
| Client | Findlay Industries, Inc. http://www.findlayindustries.com |
| Geographic Location | Headquartered in Findlay, Ohio |
| Industry/Sector | Automotive Supply |
| Transaction Type | Divestiture |
| Business Description |
Interior trim components and systems supplier to every major car and truck manufacturer around the world. |
| Deal Summary | Swiss financial investor Capvis acquired the European activities of Findlay Industries Inc. in a deal that involved four facilities in Germany, one in Poland, one in the U.K. and one in Spain. The deal was sponsored by the EUR 340m Capvis Equity LP II Fund. Beringea LLC, an international investment bank specializing in automotive and manufacturing transactions, served as financial advisor to Findlay Industries. Findlay Europe, headquartered in Geretsried near Munich, was a leading supplier of automotive interior systems and component, including rear compartment systems, seatback covers and overhead systems . Findlay Europe generated revenues of EUR 240m in 2003 and employed around 1,500 staff members. |
| Revenue | $294 million in European sales in 2003 |
| Client | Active CarHaul, a subsidiary of JHT Holdings ("Active" or the "Company") |
| Geographic Location | Kenosha, Wisconsin |
| Industry/Sector | Logistics |
| Transaction Type | Divestiture |
| Business Description | Vehicle haul-away transportation and logistics. |
| Deal Summary | In December 2005, Active Carhaul, a subsidiary of JHT Holdings, Inc., was sold to FNBC, a holding company based in Joplin, Missouri. FNBC principals had prior experience in the trucking industry and provided the vision, capital and skill sets to support ongoing operations. The deal was well received by Active's customer base, which was seeking to encourage new market entrants. "Beringea brought transaction expertise to a deal that required patience and tenacity. We are pleased that the deal was not only beneficial to both parties but to Active's customer base as well," commented Michael Riggs, CEO for JHT Holdings. |
| Revenue | Undisclosed |
