Hilco Corporate Finance worked with management to review various strategic alternatives and determined the best course of action was to sell specific profitable product lines, sell Beckett as a going concern, and liquidate the remaining assets.
After 60+ years of flourishing in the plastic industry, the owners of General Foam Plastics came to the realization they no longer could compete on cost/price with foreign imports. The Company publicly announced they were closing their doors. In this unique situation, the CEO approached Hilco Corporate Finance to determine if there was any opportunity to appropriately monetize the business. After a detailed review, it was determined to sell the profitable product lines of General Foam and liquidate the remaining assets. It was also determined to sell the Beckett subsidiary as a going concern, as it was independent from the plastics operations. Hilco Corporate Finance ran parallel processes and was able to generate positive financial outcomes for the owners.