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Building on Shiloh’s Unique Strengths While Improving Our Financial Position for the Long Term

On August 30, 2020, Shiloh announced that it has entered into a stalking horse stock and asset purchase agreement with Grouper Holdings, LLC (“Grouper”), a subsidiary of MiddleGround Capital LLC (“MiddleGround”) pursuant to which Grouper will acquire substantially all of the Company’s assets, including the equity interests of certain of the Company’s direct and indirect subsidiaries for an aggregate consideration of $218 million in cash, subject to working capital and net debt adjustments, and assumption of certain liabilities of the Company.

To facilitate the transaction process, Shiloh and certain of its U.S. subsidiaries filed voluntary petitions (the “Bankruptcy Petitions,” and the cases commenced thereby, the “Chapter 11 Cases”) for reorganization under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Shiloh intends to conduct the sale process pursuant to Section 363 of the Bankruptcy Code.

Shiloh’s operations will continue throughout the sale process and the Company will continue to meet customer demand as the automotive industry recovers from the COVID-19 pandemic. Shiloh’s operating entities outside the U.S., while included in the agreement with MiddleGround, are not part of the court-supervised process, and the Company’s operations in Asia, Europe and Mexico are expected to continue as normal.

Information and Resources

Press Releases

09/02/2020

Shiloh Industries, Inc. Receives Court Approval of "First Day" Motions to Support Business Operations

08/30/2020

Shiloh Industries, Inc. Enters Into Stock and Asset Purchase Agreement with Grouper Holdings, LLC, a Subsidiary of MiddleGround Capital

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