Knox Advises Alton Steel on Debt Recapitalization
02/06/2008 - Knox & Co. acts as exclusive financial advisor to Alton Steel for its debt recapitalization, which included refinancing of Alton Steel’s senior loan facility with Wells Fargo Business Credit.
Knox & Co., and its subsidiary, Knox Securities Corp. have acted as the exclusive financial advisor to Alton Steel, Inc. in connection with its debt recapitalization. The recapitalization included refinancing of Alton Steel’s senior loan facility with Wells Fargo Business Credit.
Knox advised the company on an optimal capital structure that would better utilize Alton Steel’s assets. As a result, the company was able to increase its facility and implement a term loan portion to facilitate continued growth.
Alton Steel’s facilities include a high-powered electric arc furnace, ladle metallurgy facility, and continuous caster that the company uses to produce semi-finished carbon and alloy steel billets and slabs in various sizes and grades for use in its bar mill or for commercial sale as semi-finished product. The company can produce both merchant bar quality (MBQ) and special bar quality (SBQ) product.
Knox has completed over 15 assignments in the metals industry.
Knox & Co. is an investment banking, consultancy and advisory firm specializing in two complementary advisory disciplines: Investment Banking and Corporate Reorganization. The firm undertakes assignments throughout North America and abroad. Knox & Co. conducts its securities-related business through its wholly owned subsidiary, Knox Securities Corp., member FINRA. In addition, the firm enjoys strategic alliances with major Asian financial institutions, including Mitsubishi UFJ Securities Co., Ltd.
Knox & Co. has advised on more than 150 middle-market merger and acquisition and financial advisory assignments since its inception.
Located in Alton, Ill., Alton Steel has an annual capacity to produce 700,000 tons of steel.
