The Client

Peters Machine, Inc.

Decatur, Il. based thirty six year old tube sheet drilling and machine shop.

The Challenge

The company had borrowed to expand its capacity during a period of sharp increase in demand for its service and subsequently experienced a reduction in its revenues due to the financial crisis and a slowdown of corn ethanol production. Equity Partners’ charge was to quickly find a buyer for the business before it was forced to shut down

The Process

Equity Partners HG ran an exhaustive marketing process, reaching out to thousands of prospective buyers.

The Solution

Following a thorough evaluation of the market, Equity Partners narrowed the field down to the several of the most logical buyers. After extensive negotiations with all prospective buyers, a competitive, court approved auction was held for the Peters Machine personal property, along with the real estate the business operated in, and several pieces of equipment either owned by the Peters Machine shareholders or controlled by a bankruptcy trustee. BMC Global LLC was the winning bidder for all of these assets, allowing for the continued operation of the business and retention of the employees.