April 26, 2018 10:06 AM ET

Machinery

Company Overview of J.B. Poindexter & Co., Inc.

Company Overview

J.B. Poindexter & Co., Inc. designs, manufactures, and markets commercial truck bodies, step vans, pickup truck caps and tonneaus, funeral coaches and limousines, specialty oil and gas industry equipment, and expanded foam packaging. It operates in four segments: Morgan, Morgan Olson, TAG, and Specialty Manufacturing. The Morgan segment manufactures commercial medium-duty truck bodies for dry freight; and refrigerated trucks and vans to truck rental and leasing companies, truck dealers, and companies that operate fleets of delivery vehicles. The Morgan Olson manufactures step van bodies for parcel, food, newspaper, uniform, and linen delivery; and supplies service parts for step vans and tru...

600 Travis Street

Suite 200

Houston, TX 77002

United States

Founded in 1988

3,348 Employees

Phone:

713-655-9800

Fax:

713-951-9038

Key Executives for J.B. Poindexter & Co., Inc.

Founder, Chairman of the Board, Chief Executive Officer and President
Age: 72
CFO, VP & General Counsel
Age: 59
Chief Operating Officer of Morgan Olson, Llc and President of Morgan Olson, Llc
Age: 65
President & COO of Morgan Truck Body LLC
Age: 56
President of Specialty Manufacturing Group and President of MIC Group
Age: 70
Compensation as of Fiscal Year 2017.

J.B. Poindexter & Co., Inc. Key Developments

J.B. Poindexter & Co., Inc. Announces Closing of $350 Million Private Senior Unsecured Notes due 2026

J.B. Poindexter & Co., Inc. announced that it has closed its previously announced private offering of $350 million aggregate principal amount of senior unsecured notes due 2026, upsized from $300 million. The 2026 Notes bear interest at 7.125% per annum. The 2026 Notes are guaranteed by certain subsidiaries of the company. The company will pay interest on the 2026 Notes semi-annually on April 15 and October 15 of each year, beginning October 15, 2018. The company will use a portion of the net proceeds of the offering to redeem all of its outstanding 9.000% senior unsecured notes due 2022, of which an aggregate principal amount of $175 million is currently outstanding, at a redemption price equal to 103.000% of the principal amount of the 2022 Notes, plus accrued and unpaid interest to, but excluding, the redemption date. The company intends to use the remaining net proceeds of the offering for general corporate purposes, including strategic acquisitions and other investments to expand the company's operations both domestically and internationally. The company previously issued a conditional notice of redemption to redeem the 2022 Notes on April 12, 2018. On April 11, 2018, the company announced that the conditions of the redemption of the 2022 Notes would not be satisfied or waived by the company on or prior to the initial redemption date and delayed the redemption date until the business day immediately following the satisfaction or waiver of the conditions of the redemption. The closing of the offering of the 2026 Notes satisfied the conditions of the redemption and the company has established April 17, 2018 as the redemption date. The 2026 Notes were offered by the initial purchasers to persons reasonably believed to be "qualified institutional buyers" in reliance on Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The 2026 Notes have not been, and will not be, registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

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