Production Engineering, Inc. has continued operations through a transaction with Anderton Machining, LLC
Production Engineering, Inc. – SC&H Capital was hired to solicit offers for this 40-year old Michigan-based machine shop, which specializes in producing drivetrain, steering components, and assemblies for heavy truck, construction, and material handling equipment. With sales declining from a high of $40+ million, the company was losing money and in default under its secured loan. Lack of working capital was hampering its ability to win and take on new business. Through the SC&H Capital process, more than 100 companies signed confidentiality agreements and considered investing in or acquiring the business. Following in-depth negotiations, SC&H was able to put together a transaction through which all of the secured debt was paid in full, the seller was released from all personal guarantees, unsecured debts were assumed by the buyer, and employees were retained. Now properly capitalized, the company continues to operate today.