Fairfield Aluminum Casting Company has continued operations through a transaction with Alcast Company Midwest Works
Fairfield Aluminum Casting Company, Inc. (FALCO) – SC&H Capital was retained to solicit offers for this seventy-year-old, Iowa-based aluminum foundry, which specializes in sand and permanent mold products with fast turnaround prototypes. Sales had been declining, the company was losing money, and was in default under its secured loan. Lack of working capital was further hampering FALCO’s ability to win and take on new business.
Through the SC&H process, more than 80 companies signed confidentiality agreements and considered investing in or acquiring the business. Following in-depth negotiations on behalf of the seller, SC&H was able to put together a transaction through which all the secured debt was paid in full, the seller was released from all personal guarantees, employees were retained, and, now properly capitalized, the company continues to operate.