Company Overview
Gichner, located in York, PA, is a manufacturer of tactical military
shelters, containers and subsystems which are used by every branch
of the U.S. and European Armed Forces, primarily as mobile operations
centers for high-value communications and IT equipment. Management
intends to expand Gichner’s current product line and thereby
diversify its customer base among new military and commercial
markets.
Situation
Management wanted to purchase Gichner from Dominion Capital,
Inc., a subsidiary of Dominion Resources, Inc. (NYSE: D), one
of the nation’s largest producers of energy. While Dominion
was receptive to the concept, management did not have the financial
resources to purchase the Company on their own and therefore
faced a short time frame in which to structure the transaction
and raise the third-party capital necessary to fund the acquisition.
Solution
Griffin quickly assessed the viability of the management
buyout and assisted management in structuring and negotiating
the terms of the Gichner acquisition; advised management on the
appropriate capital structure for the acquisition; and managed
a competitive capital raising process to privately place the
senior debt, subordinated debt and private equity capital required
to fund the acquisition. Management’s capital partners
include National Penn Bank and KNBT Bancorp as senior lenders,
Argosy Investment Partners as lead subordinated debt lender and
Altus Capital Partners and Dunrath Capital as lead private equity
investors. |
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For more information on this transaction, please contact John
Lee, Senior Managing Director, at 610.205.6106 or Patrick
Wood, Vice President, at 610.478.2110. For more information on
Griffin’s services in general, contact any one of our investment
banking professionals.
Griffin is an investment bank providing merger and acquisition,
institutional private placement, and management buyout advisory
services, including related structuring, research and analysis,
and competitive capital raise or sale process management. Griffin
is licensed by FINRA (formerly NASD) and is a SIPC member. |
