Railway and Industrial Services, Inc. – This 85-year-old, family-owned and operated industrial railcar repair and rebuilding shop in Chicago had an impressive list of customers but had been negatively impacted by a severe winter and a labor strike. The resulting decline in sales put the company in default with its lender and hampered its ability to continue funding the operation.
SC&H was retained to simultaneously market the business for sale and explore potential refinancing options. Following an exhaustive marketing effort, SC&H generated offers to purchase the business and new lenders interested in refinancing the company. With a variety of viable options on the table, the company decided to refinance the business with Grand Ridge National Bank. Now with a supportive lender, the company continues to attract new business as they look forward to the next chapter in their long history.