AEG Partners Finds Desa Heating Value Where Others Would Not
AEG Partners Finds Desa Heating Value Where Others Would Not
1 Pages[Type here] 200 W. MADISON STREET, SUITE 2410 | CHICAGO, IL | 312.948.5600 | AEGPARTNERS.COM AEG PARTNERS FINDS DESA HEATING VALUE WHERE OTHERS WOULD NOT SITUATION • DESA Heating, headquartered in Bowling Green, Kentucky, was a $300 million consumer products manufacturing company with multiple lines of business operating in North America and Europe. • Following significant underperformance of the business as well as numerous covenant violations, the secured lenders (primarily hedge funds which had purchased the debt on the secondary market) halted use of the Co m p a n y ’ s credit facility and froze bank accounts, leaving the Company unable to operate. • Due to extensive experience in complex situations, AEG Partners was retained as Chief Restructuring
