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  • Houston
    +1 713-929-9080
  • Paris
    +33 1 82 88 48 32

Case Studies

Southern Structures, Inc.

Manufacturing and Industrial

Shutterstock 1991535206


SIT­U­A­TION

  • Chi­ron was engaged by an Inde­pen­dent Spon­sor to pur­chase South­ern Struc­tures, Inc. (the ​“Com­pa­ny”)
  • The Com­pa­ny designed, man­u­fac­tured and pro­duced cus­tom, inno­v­a­tive build­ing sys­tems uti­liz­ing mass pro­duc­tion tech­niques for a vari­ety of indus­tri­al end-users
  • The Company’s facil­i­ties were equipped and designed to han­dle large orders as well as one-of-a-kind orders for ware­hous­es, retail build­ings, small build­ings, avi­a­tion build­ings, educational/​religious build­ings, com­mer­cial build­ings and auto­mo­bile dealerships
  • The Com­pa­ny was a fam­i­ly-owned oper­a­tion and had been found­ed in the ear­ly 1960’s and had reached over $60.0 MM in rev­enue when it was turned over to the old­est son
  • With­in 18 months of the change of con­trol, rev­enues had dete­ri­o­rat­ed, the debt had sub­stan­tial­ly increased, and long-stand­ing employ­ees were resigning

OUT­COME

  • Chi­ron arranged the debt pur­chase of the Com­pa­ny, and the Inde­pen­dent Spon­sor con­vert­ed the debt to equi­ty and gained con­trol of the Company
Southern Structures

The Challenge

Within 18 months of the change of control, revenues had deteriorated, the debt had substantially increased, and long-standing employees were resigning.

The Chiron Solution

Chiron was engaged by an Independent Sponsor to purchase Southern Structures, Inc.

The Result

Chiron arranged the debt purchase of the Company, and the Independent Sponsor converted the debt to equity and gained control of the Company.

Is your com­pa­ny per­form­ing like it should?

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