DISTRESSED M&A
Candlewood Partners engages senior level advisors on every transactions. Our professionals work every deal from start to finish. Our detailed and experienced approach enhances the confidence, quality, and outcomes for every client.
| Client | Industry | Client Description | Transaction Summary |
|---|---|---|---|
| AB Dick Company | Manufacturing | Manufacturer of printing equipment | Sale of assets via Sec. 363 |
| AB Dick Company, subsidiary of Paragon Corporate Holdings | Manufacturing | Candlewood was engaged as Financial Advisor to the Company to restructure the company’s Senior Note. By structuring the new note with a combination of cash, non-maturing debt, and certain equity conversion rights to the previous debt holders, the client successfully avoided a bankruptcy filing. | |
| Bunting Bearing | Industrial | Metal bearings manufacturer | Sale of assets via Sec. 363 |
| Crown Simplimatic | Industrial | A $200 million international supplier of material handling and packaging equipment to the beverage circuit board industries | Provided financial advisory services to the company by arranging the sale of one business unit to a financial buyer and organizing two auctions for the sale of all remaining assets |
| Grand Eagle, Inc. | Industrial | Rollup company specializing in the repair and remanufacture of electric motors, circuit breakers and switchgears, and transformers | A Candlewood principal was appointed Chapter 11 trustee and Candlewood served as financial advisor and successfully orchestrated an auction that facilitated a sale of all assets in almost two dozen separate Sec. 363 sales |
| Holzer Health System | Healthcare | Operator of regional hospital system | Advised the Company and negotiated on its behalf with credit rating agencies for its municipal bonds |
| Jancor Companies, Inc. | Building Products | Manufacturer of vinyl windows and siding for the residential market | Candlewood’s involvement initially was focused on assisting the Company in restructuring its operations. We developed a plan to consolidate five autonomous companies into two efficient operating units. Next we focused on restructuring and/or refinancing the Company’s existing indebtedness and ultimately managed an expedited sale process to sell the Company’s assets to strategic buyers in a bankruptcy proceeding. |
| Level Propane Gases, Inc. | Energy | Distributor of propane gas primarily for home heating | Candlewood negotiated and structured a Debtor-in-Possession credit facility, Senior Lender Lockup, and Management Agreement to finance and act as Plan Proponent for the Debtor. |
| NCS HealthCare, Inc. | Healthcare | Publicly traded provider of pharmacy services to long-term care institutions, including skilled nursing facilities and assisted living facilities | Candlewood was engaged as financial advisor during the company's restructuring and negotiation of its merger with Omnicare, Inc. (NYSE: OCR). Candlewood also rendered a Fairness Opinion to the Board of Directors of NCS in connection with the merger. |
| Omni Facility Services, Inc. | Business Services | Provider of facility maintenance services | Sale of three divisions via separate Sec. 363 sales |
| Optical Datacom, LLC | Telecommunications | Candlewood negotiated a standstill period with the company’s lenders, allowing the company to reposition itself in the marketplace and arrange financing for a sale to existing equity holders pursuant to Section 363 of the United States Bankruptcy Code. The sale was accomplished within fifty days of the filing. | |
| PTC Alliance Holdings Corp. | Metals | Manufacturer of steel tubing | Financial advisory services related to negotiating DIP Loan and 363 sale |
| Pull'R Holdings | Consumer Products | Manufacturer of hand tools | Sale of the company to management via Sec. 363 sale |
| Specialty Chemical Resources, Inc. | Industrial | An aerosol packager and formulator | Represented the company in a sale of the business to Calier Interests, a financial group based in Texas |
| The Collinwood-Horning Companies | Manufacturing | Producer of ready-mix concrete for commercial construction | Advised Court Appointed Receiver in the Receivership Sale. Initial Bidder was The Osborne Companies Inc. No other bidders submitted bids for the business. |
| The CSC Group | Healthcare | Provider of technology-enabled revenue cycle management software and services | Advised Court Appointed Receiver in the sale of the business prior to the Company filing for Chapter 11 Bankruptcy protection. |
| Wrayco Industries, Inc. | Industrial | Manufacturer of metal tanks for construction and mining equipment OEMs | Advised Court Appointed Receiver in the Receivership Sale. Initial Bidder was Steel Warehouse, aka A&F Realty LLC. No other bidders submitted bids for the business. A&F Realty LLC won with a bid of $9,305,089 |