Cratos Advisors Completes Sale of Machine Laboratory’s Anjon Subsidiary
Scottsdale, AZ—Cratos Advisors was engaged as CRO of Machine Laboratory, LLC in November 2015 after the company went through a four-year total revenue decline of 28% and the total loss of a 24% EBITDA margin. Machine Laboratory is an ISO-certified engineering and high-precision manufacturing company with facilities in Lenexa, KS, St. Louis, MO and Jacksonville, FL and they specialize in the engineering, design and high volume manufacturing of critical, ultra-high precision CNC parts for a wide range of markets that includes aerospace, automotive safety, automotive OEM, medical, defense, industrial, oil & gas and power generation. To learn more about Machine Laboratory or Anjon please visit Machlab.com or anjoninc.com.
Cratos Advisors has been pursuing a number of strategies to deal with the parent company’s $75.0M in secured and subordinated debt and the sale of the company’s Anjon, LLC business unit located in Jacksonville, FL is one of the many steps being taken to deal with the debt and liquidity issues. The Anjon facility is FDA registered and provides engineering, design and manufacturing solutions for leading medical device companies. The sale price negotiated by Cratos represents a 50% premium over previous offers and was an all cash asset sale to a private investor with industry experience.
Dennis Gerrard, Cratos’ Managing Director, commented that “the sale of the Anjon business unit represents a positive outcome for all parties; it provided a measurable premium and liquidity to the secured parties, the buyer recognized a genuine value and the work force remains in place.”
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