The Glass Group, Inc. – Flat River, Mays Landing
Headquartered in Millville, NJ and with manufacturing facilities in Millville, NJ, Williamstown, NJ, Mays Landing, NJ, Park Hills, MO and a joint venture in Beijing, China, The Glass Group, Inc. (“GGI” or the “Company”) is the largest manufacturer and distributor of specialty molded glass containers in the United States. The Company also provides in-house design and mold manufacturing as well as full decorating capabilities. GGI services many of the industry leaders in the pharmaceutical, cosmetic, personal care, food and beverage and specialty/distribution markets throughout North America.
As a result of its increasing energy and healthcare costs as well as reduced availability from its senior lender, GGI was faced with a severe liquidity crisis. Consequently, the Company filed for Chapter 11 bankruptcy protection in February 2005.
Upon assisting GGI in securing a D.I.P. financing facility from CapitalSource Finance LLC, SSG was retained to explore alternatives to facilitate the Company’s emergence from bankruptcy. In order to maximize value, SSG sold the business in two separate transactions. The Millville operation and the Company’s equity interest in Beijing Wheaton Glass Company were sold to Kimble Glass, a subsidiary of The Gerresheimer Group, which is a portfolio company of the Blackstone Group. The Flat River, Williamstown and Mays Landing operations were sold to a subsidiary of Gujarat Glass Ltd.