The company was a private equity backed international manufacturer of electrical connectors and capacitors supplying a range of end markets including automotive, commercial and industrial, vending, and HVAC. After several years of underperformance due to a combination of underutilized capacity and operational inefficiencies in its manufacturing base, the business was marketed for sale but failed to identify any suitable acquirors for the business. CR3 was retained by the company to assist in the wind-down of the business with the goal of maximizing recoveries to creditors and maintaining the residual value of a subsidiary for the private equity sponsor. An agreement was negotiated with customers to pay surcharges for their products, which funded the wind-down process and ensured continued supply while they transitioned to alternate suppliers. The company was successfully wound down and creditors were paid nearly in full.