January 23, 2008
BlackEagle Partners Acquires Rockford Products
Bloomfield Hills, Michigan – January 23, 2008 – BlackEagle Partners, a private equity firm focused on turnarounds and special situations, acquired selected assets of Rockford Products (“Rockford”), a Rockford, Illinois based manufacturer of highly engineered chassis and suspension components, in a sale process conducted under Section 363 of the United States Bankruptcy Code. On the day of closing, BlackEagle made some key changes in the management team to facilitate the rapid improvements planned at the Company. ”Since the outcome of the bankruptcy auction, we have been working closely with the Rockford team to design and map out specific profit improvement initiatives,” said Harry Watson, partner of BlackEagle.
Founded in 1929 and located in Rockford, Illinois, Rockford Products is an international leader in the cold-forming industry, supplying chassis and suspension components to vehicle OEM and aftermarket customers. The Company’s products are used in safety critical suspension applications and include Ball Studs, Studs, Track Bolts, Ball Pins, Engineered Bolts and Circular Extrusions. In addition to its core product line, Rockford offers value added products and services such as precision machining, engineering, heat treating, tool design and manufacturing, and finishing.
“Rockford has an outstanding product portfolio and has built a substantial presence overseas. We are excited to be part of the Rockford team and to grow with our customers both domestically and abroad,” said Garrett Kanehann, partner of BlackEagle. In addition to its U.S. operations, the Company conducts business internationally through joint ventures in Changzhou, China and Guadalajara, Mexico.
About BlackEagle Partners
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operationally focused, middle market private equity firm that seeks to acquire underperforming and distressed businesses, non-core subsidiaries, and companies operating in out of favor industries. The firm focuses on businesses below $200 million in enterprise value. For more information, please visit www.blackeaglepartners.com.
Contact
Garrett Kanehann – 313.647.5348
Harry Watson – 313.647.5330