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Client:
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EaglePicher, Inc., a privately-held $650 million diversified manufacturer of products for automotive, defense, aerospace and related industrial and technology applications
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www.epcorp.com
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Transaction Summary:
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EaglePicher sought to divest its non-core Electro-Optic Materials ("EOM") subsidiary focused on high-purity germanium and gallium products. Brookwood managed a dual marketing process that resulted in two separate transactions. The primary transaction involved the sale of the germanium assets to Brussels-based Umicore Group (OTC: UMICF); the gallium assets were sold in a management-led buyout.
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“This is the third time I have hired Brookwood. They bring tremendous experience and focus to middle market M&A and have consistently exceeded our high expectations for value and client service."
- John Weber, CEO
EaglePicher, Inc.
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Transaction Highlights:
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Competitive Process with Limited Buyer Universe – Brookwood was able to structure and manage a competitive process in a niche manufacturing industry that comprised a limited universe of global strategic buyers
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"Carve-Out" Issues – As EOM was an operating unit of a much larger division, Brookwood had to work with EaglePicher to "carve" the EOM business out of the corporate umbrella to present EOM's financial performance on a standalone basis and to structure a transition services arrangement to avoid disruption of the business
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Negotiations with Competitors and Suppliers – Brookwood managed the staged release of confidential diligence information to, and carefully negotiated with, buyer prospects that included EOM's primary competitors and suppliers
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Exceptional Value – Brookwood was able to achieve attractive contractual terms and an exceptional value for our client, who engaged Brookwood for another divestiture within 90 days of the EOM closing
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