Vessel Systems, Inc. – An Iowas-based leader in the design and fabrication of a broad range of pressure vessels, including those requiring special materials and high-pressure vessels. The business’ profits had deteriorated greatly due to poor management, high steel prices, and increased debt service. Bank foreclosure loomed on the horizon. SC&H Capital was retained by the owners and given 60 days by the bank to resolve the situation.
Following an exhaustive marketing campaign, SC&H obtained four going concern offers for the business. SC&H negotiated with all buyers to improve their offers and Arts-Way Manufacturing was finally selected as the high bidder. The new owners rehired most of the employees and operations continue in Dubuque.