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Schramm, Inc., has Sold substantially all of its Assets to an Affiliate of GenNx 360 Capital Partners

December 05, 2019

West Chester, PA — Schramm, Inc. (the “Company”) announced the successful sale of substantially all its assets to an affiliate of GenNx 360 Capital Partners (“GenNx”) from its Chapter 11 case in the District of Delaware. FocalPoint Securities, LLC acted as the Company’s exclusive investment banker in connection with this transaction.

Regarding the transaction, CEO Craig Mayman said, “While Chapter 11 is never a preferred route, this transaction allowed us to efficiently revitalize the balance sheet, emerging with stronger relations with our key vendors and better positioned to execute on our turnaround strategy.” He continued, “Working with the experienced professionals at FocalPoint provided the management team the necessary guidance to work through this transaction.”

Michael Fixler, Managing Director who heads FocalPoint’s Special Situations practice, commented, “We were able to work together with the management team to canvass the market for potential strategic and financial buyers while they maintained the customer and vendor relationships that were essential to preserving enterprise value. Ultimately, all the Company’s assets, operations and employees across the world were transferred to the new operating company, and customers of this 100-year old company can be assured of continued product support and parts supply as well as a source for future, best-in-class, drill rigs when the market tailwinds take hold.”

About the Purchaser (Schramm II, Inc.)
Schramm II, Inc., an affiliate of GenNx, is a leading global manufacturer and supplier of branded land-based hydraulic drills and equipment to the mining, oil and gas, water, and other end-markets. Schramm has more than a century of experience having pioneered advances in engineering and drilling equipment, and today is still revered as a preeminent brand in the drilling industry. For more information on Schramm, visit www.schramminc.com.

About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides global advisory services to a variety of middle-market clients. For more information, please visit www.focalpointllc.com and follow us on LinkedIn and Twitter.

Please contact Michael Fixler, Managing Director, at 312-508-5870 for more information regarding this transaction.