At INDDEVCO we acquire majority control in underperforming and non-core industrial processing assets. Our purchases generally involve large processing facilities that have been compromised economically due to complex factors yet are problematic to close for the owners due to significant environmental liability, pension obligation, litigation, regulatory limits and other stakeholder impediments. Often we have found that we are the only investor group in the world willing to undertake certain ventures. We know that speed and discretion are critical to completing successful transactions in this space. Our partnership group includes some of the globe's most accomplished experts in industrial business turnarounds and plant restarts.
Our ideal acquisition lands within the following criteria:
Industry: Petroleum refining, gas processing, olefins, methanol & ethers, polymers, coatings, sulfur, acids, caustic, and agri-chem. We also participate in metals smelting from steel, stainless steel, superalloys, aluminum, magnesium, other non-ferrous metals. Our general manufacturing division is engaged in personal care, cosmetics, and pharmaceutical manufacturing, food processing, pulp & paper, lumber, and other general manufacturing.
In general, we do not acquire upstream oil & gas properties, oil field services businesses, mineral resources, or transport assets (including pipelines, terminals, ships, and trucks). We do not purchase power plants or mining operations. We do not engage in commodity trading, brokering, or intermediation activities of any sort.
Target Revenue: $20 million to $5 billion
Target EBITDA: Minus $100 million to slightly positive
Form of Acquisition: We prefer friendly seller transactions in which the seller recognizes the services that we are providing to them. We are very flexible in terms of asset purchases versus going-concern purchases including the assumption of a stressed corporate balance sheet. We have purchased companies from bankruptcy including Chapter 11 and 7 and come with the knowledge required to move quickly through bankruptcy proceedings. We have conducted business at one time or another with more than half of the top 50 law firms in business and can navigate around many of the pitfalls found in distressed sales. We have a strong track record of avoiding post-transaction litigation with our asset sellers.
Liabilities Assumed: Environmental, pension, litigation, regulatory fine, union contract, and trade-based payables
Purchase Price: minus $25 million to $5 million
We welcome inquiries from asset owners, brokers, investment bankers, legal and accounting professionals, union leaders, and government officials.