Veltri Metal Products

Situation

Veltri Metal Products, Inc. (“VMP”) engages in the design and manufacture of stamped metal assemblies and modules and primarily serves the auto parts industry.

VMP was forced to file Chapter 11 due to liquidity constraints, resulting in a court-monitored sales process.

Solution

Amherst served as the sole financial advisor to assist the Company explore various strategic alternatives with regards to its cash position, negotiations with customers and suppliers and managing creditor groups as well as on the sale of the Company.

Additionally, Amherst provided assistance in analyzing the financial effects of transactions, preparing a descriptive memorandum, contacting potential buyers, coordinating management presentations, and advising on negotiations with interested parties.

Due to the limited liquidity, Amherst conducted and negotiated an expedited 363 sale process.

Results

Amherst managed a complex sale process involving multiple strategic and financial buyers. Given the high-profile nature of the parts being produced by the Company, its OEM customers were closely consulted in conjunction with the sale process.

Ultimately, Amherst secured Flex-N-Gate as the buyer. This was strategic since Flex-N-Gate is a large, minority-owned business and an established supplier within this industry.