Transactions
INDUSTRY
Manufacturing - Basic
CLIENT
Scott Brass
TYPE
Distressed M&A
REPRESENTING
Seller
BUSINESS OVERVIEW
$77 million manufacturer of copper and brass strip with defaulted $50 million required working capital line
NOTABLE ACCOMPLISHMENT
Sold to Sun Capital, despite large required ongoing working capital position with minimal operation profits.
INDUSTRY
Manufacturing - Basic
CLIENT
Project Gold
TYPE
Distressed M&A
REPRESENTING
Seller
BUSINESS OVERVIEW
$100 million jewelry & writing instrument parts manufacturer with defaulted $80 million working capital line
NOTABLE ACCOMPLISHMENT
Sold to strategic buyer in a transaction valued at more than 20 times recast trailing EBITDA, plus assumption/funding of approximately $80 million in loans supporting gold inventory. Achieved a sales price 1.9x initial expectations.
INDUSTRY
Manufacturing - Basic
CLIENT
KL1 Sawmill
TYPE
363 Sale
REPRESENTING
Seller
BUSINESS OVERVIEW
A formerly operational sawmill that had revenues of approximately $96 million in 2018, then abandoned in 2020.
NOTABLE ACCOMPLISHMENT
Sold in a $63 million transaction valued at more than 10 times expected value. Employed drone video during early COVID-19 to attract foreign buyers who used the same European no-waste technology. TMA and Turnaround Atlas Award winner.
INDUSTRY
Manufacturing - Basic
CLIENT
KL2 Sawmill
TYPE
363 Sale
REPRESENTING
Seller
BUSINESS OVERVIEW
A sawmill still in the commissioning phase that had never been operational and was abandoned in 2020.
NOTABLE ACCOMPLISHMENT
Sold to strategic buyer in a $87 million transaction valued at more than 11 times expected value. Regained title from NC county and preserved the ability of EB-5 investors to obtain green cards. TMA and Turnaround Atlas Award winner.
INDUSTRY
Manufacturing - High Tech
CLIENT
Riverstone
TYPE
363 Sale
REPRESENTING
Equity Committee
BUSINESS OVERVIEW
$65 million manufacturer of metro edge servers for large telecoms
NOTABLE ACCOMPLISHMENT
Validated pre-petition sales process run by another investment bank and helped improve price by $27 million, and terms, over those contained in stalking horse bid. Bankruptcy auction was held within 3 weeks of our retention.
INDUSTRY
Manufacturing - High Tech
CLIENT
Suitable Technologies
TYPE
363 Sale and Subsequent Restructuring
REPRESENTING
Debtor
BUSINESS OVERVIEW
Failing telepresence robotics company caught up in a legal battle between the founder and his wife.
NOTABLE ACCOMPLISHMENT
Successful sale of certain assets to Blue Ocean Robotics and Magicheart Investments.