Robertshaw, a leading global design, engineering, and manufacturing company, announced the successful completion of its Chapter 11 sale and restructuring, now under the ownership of its primary senior secured lenders and an affiliate of its existing sponsor.
This process has allowed Robertshaw to eliminate approximately $650 million in debt, significantly reducing its debt service obligations and enhancing its liquidity. The company now has the financial flexibility to invest in growth and better serve its global customers. Additionally, Robertshaw reached a settlement with the Creditors’ Committee, resolving litigation issues stemming from the May 2023 and December 2023 liability management transactions.
During the restructuring, Robertshaw prioritized support for its customers and trade creditors to ensure access to necessary subcomponents for meeting demand. With the confirmation of the Chapter 11 plan and the sale, trade creditors will receive over 75% of their pre-bankruptcy claims.
“This significant milestone marks the end of Robertshaw’s seven-month restructuring process, coinciding with our 125th anniversary. With a stronger balance sheet, we are excited to continue serving our valued customers. We appreciate the overwhelming support from our customers, vendors, and employees during this time, and we look forward to delivering innovative, high-quality products for the next 125 years,” stated John Hewitt, Chief Executive Officer of Robertshaw.
Robertshaw specializes in designing, engineering, and manufacturing components and systems for the residential white goods, commercial appliance, HVAC, and transportation industries. With over 125 years of experience in flow control for gas, water, and other fluids, the company is headquartered in Itasca, Illinois, and employs over 5,000 people across 14 countries.
Robertshaw’s mission is to provide exceptional service to customers by delivering innovative product solutions that enhance safety, productivity, and environmental protection, helping manufacturers realize their visions.
