Ravinia Capital LLC is pleased to announce the successful §363-bankruptcy sale of Rōti® Modern Mediterranean, saving 200+ jobs and keeping the brand alive by preserving the fleet of locations in three markets. “The auction took surprising turns, but after it was completed, Ravinia continued to work to create mini auctions for the remaining leases,” noted Ken Hachikian, Managing Director of Ravinia Capital.
A private equity sponsor reached out to AEG to fill a transitional interim CEO role on an emergency basis. This West Coast based pipe fittings manufacturer required an immediate on the ground resource to stabilize leadership, identify problem areas, and transition to longer term management. AEG quickly identified issues that were driving consistent underperformance despite healthy long term growth trends. Focusing on a series of operational issues ranging from inventory management to establishing an effective sales and operations planning process, AEG also improved the tools for the Company to manage liquidity effectively. These actions paved the way for ownership to bring in permanent leadership.
Republic Business Credit fundings: $4,500,000 Asset Based Loan for a California based sustainable clothing manufacturer. Additionally, $10,000,000 Factoring facilityfor a baby products company that was referred by a turnaround consultant member of the Chicago TMA; $2,500,000 Non-Recourse Factoring facility for a Mississippi based foam mattress manufacturer; $1,000,000 factoring facility for a Pacific Northwest natural food manufacturer; and $2,000,000 factoring facility for a Midwest based temporary staffing company.
Rebecca R. DeMarb was appointed as the Receiver in the Johnson County, Kansas, District Court for American Direct Procurement, a leading door and hardware supplier, amid financial distress. Leveraging its restructuring expertise, DeMarb and her team at Development Specialists, Inc. and Husch Blackwell LLC quickly stabilized operations and facilitated a competitive sale process. Within two weeks, the Receiver and her team successfully negotiated, obtained court approval of, and closed a transaction while the business remained operating, preserving value for stakeholders and ensuring business continuity. The expedited sale demonstrated the ability to execute swift, strategic solutions in complex receivership situations.
GA Group was named the successful bidder to monetize substantially all of the assets of JOANN, Inc., including approximately $2 billion in retail inventory, 790 store leases across 49 states, and five distribution centers nationwide.
Charles Winternitz, President of Winternitz Industrial Auctioneers & Appraisers Announces the completion of the following Auctions & Liquidations: IMA Automation, IL; DC Tricore, IL; Number 12 Cider, MN; Stone Link USA, IL; Adams Foam Rubber, IL; Jelly Belly Candy, IL; Ashley Furniture, NC; Pitney Bowes Logistics, IL; Coast to Coast Imports, TN; Alliance Specialties, IL; and Alcom Trailers, TX. Upcoming Projects include: Gordon Machine Works, IL; Americana Juice Imports, TX; Alcom Triton Trailers, WI; Alpha Star Tool & Mold, IL; For more information, or Inquiries, Contact: Charles Winternitz, charlie@winternitz.com, or www.Winternitz.com.
Following a strong 2024, HYPERAMS continued to complete a wide range of auctions and liquidations in the first quarter. Notable projects include the auction of a complete snack food plant featuring late model baking and packaging lines in Illinois; the liquidation of assets inside a 400,000 square foot distribution center on behalf of a prominent furniture retailer in Illinois; and the liquidation of equipment from an aluminum foundry in Ohio. HYPERAMS also managed the sale of all assets, including intellectual property, inventory, and equipment, of a tool and hardware e-commerce business in West Virginia.
