The principal independent U.S. provider of glass fabrics for reinforcement, with market positions in transportation, marine, recreation, industrial and wind energy.
Johnston Industries, a CGW portfolio company, was considering the sale of Vectorply in order to raise capital and engaged Brookwood to offer advisory services during the process.
Engagement Process and Outcomes
The Challenge – Brookwood advised Johnston Industries as they contemplated selling Vectorply in order to accumulate additional capital. Though Johnston declined to sell the division at initial price levels, Brookwood later advised Johnston’s board of directors in the sale of the division to an interested financial buyer.
Brookwood’s Role – Brookwood wrote a memorandum describing Vectorply’s industry, company dynamics, financial position and strategic plan. Brookwood then marketed Vectorply to 74 international and domestic industry participants and to 18 financial buyers. Management visits were held with five potential buyers.
Commitment to Client – Bids were obtained, and Johnston initially decided not to sell the division at those price levels. The division was ultimately sold three months later to a financial buyer.