About United Support Solutions
United Support Solutions (USS) is a diversified small business offering a complete range of ISO 9001:2008 certified manufacturing, engineering, and professional support services. USS is committed to supporting customers to the fullest degree throughout the system lifecycle from concept through sustainment.
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Latest United Support Solutions News
Mar 8, 2016
Heritage Equity Partners Serves as Investment Banker to United Support Solutions in Successful Sale 3/8/16 Heritage Equity Partners , a premier M&A advisor to distressed organizations and special situations, today announced it acted as investment banker and exclusive sell-side advisor to United Support Solutions, Inc. (United or Company) in the recently completed sale of the Company to LMT Mercer Group, Inc. (LMT). Heritage Equity Partners effectuated the sale through a Chapter 11 Section 363 process, which was approved by the Bankruptcy Court in New Jersey on February 26 and closed on March 3. This marks the second time in three months Heritage Equity Partners has completed a going concern sale of a machining and fabrication company. “We wish we would have found Heritage Equity Partners sooner,” said Joe Ostering, vice president of United Support Solutions Division of LMT Mercer Group, Inc. and former CEO of United Support Solutions. “Throughout the entire process of finding a buyer, we were able to keep our employees in place and continue operations without interruption to our customers or vendors.” The Company obtained an initial stalking horse bid. In conjunction with the proposed sale, the Company was operating under Chapter 11 in order to meet the needs of its customers, vendors and employees while working to restructure its obligations. United retained Heritage Equity Partners onJanuary 21 to help secure additional parties interested in purchasing the Company. Heritage Equity Partners conducted a successful marketing process resulting in a competing offer from a strong strategic partner. The two bidders participated in an auction, increasing the price by 41 percent through multiple rounds of bidding, with LMT ultimately prevailing. “The acquisition by LMT will allow United to emerge from bankruptcy properly capitalized and well positioned to implement our growth strategy and continue serving customers and working with our vendors,” Ostering said. The sale to LMT was completed less than two months from the date Heritage Equity Partners was initially retained. Heritage Equity Partner's extensive experience in identifying potential buyers and executing an expedited sales process enabled the Company to continue operating without interruption, while maintaining jobs for more than 60 employees. United Support Solutions was founded in 1980 as a small silk-screening business by Joe Ostering and his father in the family’s garage. As the Company grew, it expanded into complimentary product offerings and became a leading precision fabrication, machining, and complete industrial finishing company serving a wide variety of customers in the commercial and medical industries, as well as the government, including the Department of Defense. Professionals who also worked on the transaction include: Barry J. Roy, Rabinowitz, Lubetkin & Tully, LLC – counsel for debtor Eric R. Perkins, McElroy, Deutsch, Mulvaney & Carpenter, LLP - chief restructuring officer for debtor Bruce Gordon, Bruce D. Gordon LLC - counsel for secured creditor (Columbia Bank) Paul Labov, Fox Rothschild LLP - counsel for Unsecured Creditors Committee Andrew J. Kelly, The Kelly Firm, P.C - counsel for LMT Mercer Group About Heritage Equity Partners Heritage Equity Partners provides boutique investment banking services for special situations. Recognized as the nation’s leader in maximizing value for distressed businesses and properties, Heritage Equity Partners uses a proven process that has provided solutions for over 450 clients throughout the United States since 1988, preserving more than 40,000 jobs. Heritage Equity Partners is a wholly owned subsidiary of Heritage Global Inc. (OTCQB: HGBL and CSE: HGP). For more information, visit HGinc.com and EquityPartnersHG.com .
United Support Solutions Frequently Asked Questions (FAQ)
Where is United Support Solutions's headquarters?
United Support Solutions's headquarters is located at 134 Sand Park Road, Cedar Grove.
What is United Support Solutions's latest funding round?
United Support Solutions's latest funding round is Acquired.
Who are the investors of United Support Solutions?
Investors of United Support Solutions include LMT Mercer Group.
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