Benada was able to return to full strength after several rocky years of operation, saving 200 jobs and safeguarding the future of the 68-year-old Florida firm.
NORTHBROOK, IL (PRWEB) September 25, 2017
In two short years, Benada Aluminum Products, LLC has transformed from a struggling aluminum extruder on the brink of liquidation into a thriving business that is poised for growth. Through a “just in time” partnership with Big Shoulders Capital and ABGB Capital LLC, Benada was able to return to full strength after several rocky years of operation, saving 200 jobs and safeguarding the future of the 68-year-old Florida firm.
“In situations like Benada’s, speed and initiative make all the difference,” says Todd DiBenedetto, President of Big Shoulders Capital. “We were able to see the potential in Benada very quickly, and with our partners, put a deal in place to help the company get back on track much sooner than a traditional private equity group would have been able to achieve.”
Big Shoulders Capital and its founding members, in collaboration with ABGB Capital, created a debt and equity financing structure that also included invaluable operational expertise from partners with extensive experience in machining and manufacturing, plus support for management team development and business oversight.
“We have the unique ability to help distressed companies in different, creative ways depending on their needs,” DiBenedetto says. “The synergy between our primary function as a lender, the power of our strategic partnerships and the deep industry experience of our founders is on full display in the results that have been realized with Benada.”
Today, Benada is a leader in its market, selling its products to many of the top window makers, patio equipment manufacturers and home accessory suppliers in the United States. The company’s 450,000 sq. ft. facility in Florida can extrude more than 45 million pounds of aluminum per year, from high production volumes all the way down to small volume or prototype work, and its state-of-the-art, high-capacity paint line is capable of coating more than 130,000 lbs. of extrusions per day, in lengths up to 40 ft. Customers appreciate that through its ups and downs, the company has remained true to its commitment to excellent and reliable service.
Having achieved a successful turnaround, Benada is now actively looking for acquisition and growth opportunities. According to Paul Melnuk, Managing Partner of ABGB Capital, “We’re excited today because this dramatic turnaround in performance makes us confident that Benada is not only here to stay, but will continue to flourish.”
About Big Shoulders Capital
Big Shoulders Capital is a privately funded, leading source of quick and creative financing solutions for small and middle-market distressed companies. With particular focus on the manufacturing and construction industries, the company has a passion for helping companies in transition, turnaround and restructuring. Big Shoulders Capital is a trusted partner for workout bankers, restructuring and turnaround consultants, debt placement brokers, attorneys, bankruptcy advisors, factors and lenders that want to exit a credit. Big Shoulders Capital is organized as an Illinois LLC with headquarters in Northbrook, Illinois, a suburb of Chicago. bigshoulderscap.com
About ABGB Capital LLC
ABGB Capital LLC is a principle investment company making opportunistic investments in lower middle market companies, with a particular interest in special situations with ownership or management transition, distressed or turnaround challenges or growth opportunities requiring a combination of capital and experienced strategic and operational guidance. ABGB has specific experience in specialty finance, manufacturing and commodity based businesses.
About Benada Aluminum Products LLC
Benada Aluminum Products, LLC is a full-service, American-owned and operated aluminum extruder located in Sanford, Florida. With more than 65 years of industry experience, Benada has manufacturing capabilities, service and commitment to quality that lead the industry. The company offers an extensive library of extrusion standards, custom tooling capabilities, fabrication capabilities and state-of-the-art powder coating to many of the top window makers, patio equipment manufacturers and home accessory suppliers in the United States. benada.com