AccuTec Blades, Inc., Verona, VA
High quality razor-edged blades for medical, professional and industrial applications.
Energizer, owner of Schick razorblades, was splitting in two: a battery company and a branded personal care company. Its industrial blade division was an afterthought and, with environmental issues at its main plant, also a distraction. But selling this small division of a large public company was proving difficult. The division, and its 300 jobs in Virginia and Mexico, risked getting lost in the shuffle.
We dug in to understand the company and its stand-alone prospects. In addition, we didn’t let environmental issues kill the deal, but rather worked alongside Energizer to establish a long-term remediation plan which kept the manufacturing facility in operation. We recreated the corporate functions the company would lose in the separation, and established AccuTec as its own brand. Most importantly to Energizer, we offered speed and certainty of closing, which allowed them to concentrate on their more important transaction.
The company is now the US’s largest manufacturer of high quality razor-edged blades for industrial and professional applications. It is also independent and profitable with a strong balance sheet. We are pursuing a global growth strategy targeting niche applications, and are creating high-quality employment opportunities in both the Verona, VA headquarters and Obregon, Mexico operation. We plan to own the business indefinitely.