Maynard Steel Casting Company is a leading full-service steel foundry based in Milwaukee, Wisconsin. Maynard’s core business is the production of carbon and low alloy steel castings from 35 pounds to 65,000 pounds.

Client Objective

Excess capacity among foundry competitors and escalating commodity prices combined to erode pricing and reduce operating margins. Maynard sustained losses and negative cash flow, and its senior lender required that the Company engage a financial advisor to assess restructuring options.


White Oak Group conducted a review of Maynard’s operating and financial performance. Our review included analysis of the Company’s financial position and liquidity, as well as a full operational assessment of management and strategic capabilities, marketing & sales, engineering & quality, operations processes, supply chain management, and HR & IT capabilities. We prioritized key future state actions to achieve profitability and positive cash flow. As a result of management’s implementation, Maynard achieved positive earnings and fixed-charge coverage, and refinanced its senior debt.