Knox & Co. Advises Alton Steel, Inc. in Debt
Westport, CT, February 5th – Knox &
Co., and its subsidiary, Knox Securities Corp. (“Knox &
Co.”), a leading investment bank for middle-market and cross-border
mergers and acquisitions announced today that it acted as exclusive
financial advisor to Alton Steel, Inc. (“ASI”) in connection
with its debt recapitalization, including the refinance of its senior
loan facility with Wells Fargo Business Credit. Knox advised on
an optimal capital structure to better utilize the assets of ASI,
increasing the facility and implementing a term loan portion to
facilitate the company’s continued growth. Knox has completed
over 15 assignments in the metals industry.
Using a high-powered electric arc furnace coupled with a ladle metallurgy
facility, Alton Steel continuously casts 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.
Internally, the carbon and alloy steels are rolled to exacting SBQ
standards, where special chemistries, sizes and physical attributes
differentiate it from MBQ which can also be produced on the mill
for less demanding applications. The company, which has the capacity
to make 700,000 tons of steel annually, is located in Alton, Illinois.
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. (www.knoxandco.com) has advised on more than 150
middle-market merger and acquisition and financial advisory assignments
since its inception,
Nick Chapman, Knox & Co.