Toledo Tool & Die

Situation

Toledo Tool & Die (the “Company”) is a manufacturer of high quality stamped metal components, serving the North American automotive industry since 1940.

The Company had established TTD Mexico, a stamping operation in Queretaro, Mexico, to support expanding customer requirements. As a result of the global economic downturn and shifting customer requirements, TTD determined that it no longer required its Mexico operation.

Toledo Tool & Die sought to develop a strategy for the timely exit of its Mexico operations.

Solution

Toledo Tool & Die considered various alternatives for exiting TTD Mexico, each of which presented significant complications with regard to meeting the production requirements of its automotive customer base.

After settling on a sale of the Mexico operations as the desired strategy, the Company engaged Amherst Partners (“Amherst”) to assist in developing and managing a process for TTD Mexico that would both maximize value and meet the needs of its customers.

Results

Amherst implemented a three-pronged project plan to: (a) manage a timely sale of the operation to a qualified buyer that would support continuing production, (b) assist in managing certain financial aspects of the operation, and (c) coordinate with TTD Mexico’s customers to maintain support for the process.

Leveraging our industry experience and relationships, along with the international resources of our IMAP affiliates, Amherst initiated a targeted sale process and obtained multiple letters of intent from buyers in four different countries.

Amherst completed the sale of TTD Mexico’s assets to a global supplier of mechanical assemblies.

The transaction exceeded project goals for value, production continuity, and timing.