BORDEN, INC.

$2.4 Billion Restructuring Proposal for Fortune 100 Borden

Investment: Japonica offered to inject capital to become the largest and controlling shareholder.

Underperforming Global Special Situation Description: An extraordinarily diversified underperforming global special situation, suffering from a loss of passion for innovation and performance, with operations in food, consumer products, chemicals, construction products, commodities, in almost all stages of the beginning to end-consumer supplier chain.
Global Reach: This underperforming global special situation had major sales and manufacturing operations throughout the world having grown aggressively through regional acquisitions of leading brands across a wide spectrum of industries, with over one-third of its sales and over one-half of its profit outside home US markets. Approximately 40,000 employees.
“Perfectly Aligned” Relationships: Japonica’s restructuring offer included building “perfectly aligned” relationships with its partners and other key relationships, as well as absorbing all restructuring offer expenses, despite offers by co-investors to share in expenses.
Japonica Creating Value: Japonica offered, with the support of leading shareholders, to inject capital into this underperforming global special situation creating value through a comprehensive restructuring and new leadership.
Discovering Value: Japonica assembled a team of approximately 40 entrepreneurs and niche specialists who worked for almost 8 months discovering value gaps based on hidden nuggets of value and transformational business plans.
Partner Creating Value: Japonica Partners created value primarily in the global capital markets sector with investment judgments, intelligence, networking, and communications.
  Japonica Partners ®