Deals Case Studies: FisherCast Global

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FisherCast Global Corporation

has been acquired by

Dynacast Inc.


vendor advised by
PricewaterhouseCoopers

Issue

FisherCast Corporation is a manufacturer of small component zinc alloy and magnesium castings primarily to the automotive, electronics and consumer products sector, with operations in Canada and the United Kingdom. In June 2008, FisherCast filed for protection under the Companies' Creditors Arrangement Act (CCAA) amid losses resulting from a high Canadian dollar, exposure to a declining North American automotive sector, and high operating costs. Unable to secure refinancing, the company required a lead M&A advisor to execute an asset-sale in order to repay its secured creditors.

PwC approach

PricewaterhouseCoopers Corporate Finance executed this sale in conjunction with PricewaterhouseCoopers Corporate Advisory and Restructuring. Working in a highly integrated fashion, we were successful in closing the sale to Dynacast Inc. in less than 90 days.

Client benefits

By completing the sale transaction in an accelerated timeframe, FisherCast has provided its customers the certainty of on-going supply. The speed of the sale also allowed the company's secured creditors to avoid a potentially costly and uncertain asset liquidation scenario.

PwC Specialist

Brooke Valentine (CA, CFA) is a managing director with PricewaterhouseCoopers Corporate Finance Inc. working in the Toronto office. He is focused on divestitures, acquisitions, raising capital and strategic planning in the specialty manufacturing and industrial services sector. Brooke has a strong track record of leading complex Canadian and international transactions from initial idea generation, through to final negotiations and closing.