Case Study: American Glass Products Group preserves European operations with AlixPartners restructuring support

American Glass Products Group secures €160 million and €21 million in savings with AlixPartners

American Glass Products Group (AGP), a major international automotive supplier, faced severe financial and operational challenges following COVID-19 shutdowns and supply chain disruptions, putting its European subsidiary, Soliver, at risk. AlixPartners was engaged to help secure this core part of the business and develop a restructuring strategy to preserve operations and jobs.

AlixPartners implemented a comprehensive solution, conducting an options analysis that led to a Belgian Transfer of Business under Judicial Authority proceeding for Soliver. The firm negotiated €160 million in funding from European OEMs and secured lender approval, ultimately delivering €21 million in budget savings. Despite a failed M&A deal, AlixPartners orchestrated a controlled nine-month out-production, ensuring business continuity and allowing for the establishment of new supply relationships.

American Glass Products Group (agp)