The Company

Cardinal Homes, Inc.

A fifty-year-old, Virginia based manufacturer of made-to-order, modular building components for building contractors engaged in residential, hospitality and light commercial construction projects.

The Challenge

With sales declining, the company was losing money and in technical default on its secured loan. They also lacked working capital to take on and win new business.

The Process

SC&H was retained and conducted an exhaustive marketing process. Through our process, over 40 companies signed confidentiality agreements and considered investing in or acquiring the business.

The Solution

Following in-depth negotiations on behalf of the seller, SC&H was able to put together a transaction with a subsidiary of The Eastern Band of Cherokee Indians through which all of the secured debt was paid in full, the shareholder was released from all personal guarantees, employees were retained, and now properly capitalized, the company continues to operate today.