Chassix

Situation

Chassix, (previously known as Uni Boring) is a Tier I supplier of machined components to domestic and foreign automotive OEMs.

The Company had invested heavily in production capacity and financial performance had declined.

Amherst was engaged as exclusive investment banker to facilitate a sale to satisfy claims by the secured and unsecured creditors through a 363 transaction.

Solution

Amherst conducted a wide auction process, contacting more than 100 potential buyers.

These efforts resulted in a spirited bidding process at the auction, preserving incremental value for the creditors.

Results

Chassix was sold to an investment group led by private equity firms The Carlyle Group and The Relativity Fund. These investors backed an executive team that was installed post-transaction to lead the business.