Appliance Controls Group, Inc.
Appliance Controls Group, Inc. (‘ACG’ or the ‘Company’), d/b/a Harper-Wyman, is a leading manufacturer of components for ranges and stoves, such as domestic gas valves, electrical range components, combustion equipment, and gas burners. With manufacturing facilities in Chattanooga, Tennessee and Juarez, Mexico, the Company supplies components to major gas range manufacturers in the U.S., Canada, and Central and South America.
ACG faced liquidity issues due to the move of manufacturing capabilities from Princeton, IL to Chattanooga, TN in mid-2003. The move led to a substantial loss of institutional knowledge associated with the operation of machinery and equipment and computer systems. Further, the Company’s inability to pass through raw material (steel and aluminum) cost increases eroded margins.
SSG was retained in April 2004 and facilitated the sale of ACG to Burner Systems International, Inc., a manufacturer of burners, manifolds, and lighter tubes for the gas appliance industry.