MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE FITZPATRICK COMPANY |
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Registered Office : |
832 Industrial Drive Elmhurst, IL 60126 |
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Country : |
United States |
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Date of Incorporation : |
06.12. 1985 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturer of Process Equipment. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
2,000,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD 100= EUR 64.5 Satisfying |
IDENTIFICATION
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Company Name: |
THE FITZPATRICK COMPANY |
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Address: |
832 Industrial
Drive Elmhurst, IL
60126 USA |
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Phone: Facsimile: ID: State: Managers: |
630-530-3333 630-530-0832 54068379 Illinois Henry Huta, Chairman |
Date founded: |
December 6, 1985
Corporation for Profit N.A. Employees: 130 |
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Legal form: |
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Stock: Staff: |
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Business: |
Manufacturer of
process equipment. |
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BANK
Bank One.
BUSINESS
Operations:
The Fitzpatrick Company maintains manufacturing facilities, test
laboratories and service support offices at its world headquarters at the above
address. Additional testing and support services are provided from Sint-Niklaas
Belgium, and Tokyo Japan.
Activity:
The Fitzpatrick Company is a global leader in the design and
manufacturing of process equipment to the pharmaceutical, food, and fine chemical
industries.
The equipment is commonly
used for diverse applications ranging from preparing pharmaceutical powders to
making tablets and capsules to converting blocks of hard cheese to fresh grated
cheese.
It maintains additional
sales and laboratory testing operations in New Jersey and through a subsidiary,
Fitzpatrick Europe NV, near Brussels, Belgium. The sales and marketing channel
has representation for its products in over 30 countries. The customer base
includes many Fortune 500 companies.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
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Henry Huta, Chairman.
On February 17, 2005,
Hamilton Robinson LLC (HRCo), announces the completion of a stock purchase
through a new entity, FitzHoldings, Inc, for 100% of the stock of The
Fitzpatrick Company, Inc.
Hamilton
Robinson LLC (HRCo), a private equity firm founded in 1984, works with
financial and management partners to make investments in small to medium size
growing businesses. Over the past decade, the firm and its principals have
managed and organized transactions involving 35 companies, representing an
aggregate value of approximately $1 billion.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Fitzpatrick Company does not publish its
financials.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
61,000,000 |
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Operating profit |
5,400,000 |
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Net income |
4,200,000 |
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Net worth |
6,000,000 |
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Liabilities |
900,000 |
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Current assets |
39,000,000 |
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Fixed assets |
5,000,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
2 UCC Filings in 2007 &
2006 by GFC Leasing, a Division of Gordon Flesch securing Equipment. Amount:NA
Any previous UCC Filings
have been cleared
PAYMENT REFERENCES
Date High Credit Now
Owing Past Due Terms Payment
Record
RATING
The bank confirmed
satisfying trend of payment.
Payments are made on 40 days
nets as monitored during the past 12 months.
The Company is in “good
standing”.
This means that all taxes
were paid on due date.
Cash is good.
Our final opinion:
This is a medium size
business working worldwide.
A business connection may
be conducted.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Good Controlled Good |
PUBLIC PAYMENTS |
See Details Above Regular |
ADVISED
CREDIT
2,000,000 USD
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)