Donald J. Bandurick, an entrepreneur, had identified Nemco, Inc. (‘Nemco’) as an acquisition candidate. Nemco manufactured high-end precision machine parts primarily for the aerospace industry.
Mr. Bandurick had negotiated a letter of intent to acquire the business. However, at the time of signing, he had not secured financing to complete the acquisition.
SSG, promptly and privately placed both a senior credit facility, including a working capital revolver, a term loan and subordinated debt with warrants. The financing provided Mr. Bandurick with the funding to complete the acquisition, as well as, provide Nemco with working capital on a going forward basis.