PPC Advises ER Wagner on Financing Initiative

Promontory Point Capital is excited to announce another one of our firm's recent client successes.

ER Wagner Manufacturing Company (“ERW”) designs, engineers, manufactures, and resells metal hinges and stampings, metal tubular components, casters, and wheels to industrial companies throughout the United States. Established more than 120 years ago, the Company operates out of its primary facility located just outside of Milwaukee, Wisconsin with a secondary operating location in Chicago, Illinois. ERW is a respected manufacturer known for producing custom-engineered, vehicle-specific, industrial metal products for a diverse set of customers. ERW’s end products encompass metal hinges, latches, and wheels used in a variety of door, lift gate, and storage applications across consumer, recreational, military, fire, and ambulatory vehicle segments along with other niche material handling markets.

As the Company, its customers, and the supply chain continue to recover from the pandemic, all levels of the ERW organization have been pushing forward on a number of performance improvement initiatives. Given PPC’s extensive corporate finance experience encompassing refinancing initiatives for companies undergoing change and transition, ER Wagner engaged PPC to explore financing alternatives to better support the business’s needs. After being retained in mid-April, PPC quickly prepared the necessary marketing and financial materials to lead an accelerated outreach process. After just 6 weeks, PPC solicited competing financing proposals from multiple interested lenders that would support closing a new financing package by the end of June, 2023. PPC managed the entire engagement and assisted in closing the transaction during the second quarter of 2023 representing another successful Done Deal for our firm.

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Promontory Point Capital is a Milwaukee-based investment banking firm focused on the needs of Midwestern privately-held businesses. Since being formed in 2004, our firm has led over 175 client engagements including the evaluation of business sale and recapitalization options, the arrangement of debt and equity financing, and the planning and execution of growth strategies involving acquisitions, mergers, and joint ventures. Many inquiries to Promontory Point Capital include business objectives encompassing:

Ownership Planning, including Transition & Liquidity Goals: PPC is frequently introduced to business owners and/or senior management teams when shareholders are interested in learning about their options involving a potential sale of all or a portion of a business. We have arranged numerous transactions involving strategic partners, private equity firms, ESOPs, management buyouts, and other types of shareholder “recaps” including both minority and majority recapitalizations.

Financing, Refinancing, & Debt Restructuring: PPC is oftentimes referred into situations where a business encounters a funding need that is beyond the comfort zone of a company's existing senior bank lender. PPC has arranged numerous transactions for companies involving senior bank debt, non-bank debt, subordinated debt, sale-leaseback financing, and other forms of institutional funding to support growth, acquisitions, shareholder redemptions, management buyouts, and other corporate initiatives.

Strategic Growth/M&A: Companies that have an interest in growing and expanding via acquisition or strategic joint venture are regularly referred to PPC given our firm's extensive corporate development experience.

We welcome your confidential inquiry and encourage you to visit our firm's website at www.promontorypointcapital.com for more information on our organization's capabilities and numerous other client successes.