Kilpatrick Townsend & Stockton LLP’s Bankruptcy and Financial Restructuring Group has been selected as counsel to the Official Committee of Unsecured Creditors in the World of Beer bankruptcy cases (In re WOB Holdings, LLC, et al.). World of Beer was founded in Tampa, Florida in 2007, and despite shuttering several locations before filing for federal bankruptcy protection in Tampa, is seeking to reorganize its remaining 32 locations principally on the East Coast of the United States. The Kilpatrick team representing this client includes Aaron Hammer, Paul Rosenblatt, Nathan Delman and Dante Wen, who look forward to working to save these debtors for beer enthusiasts everywhere. Prost!
AEG served as financial advisor to a consumer lending company sourcing transactions across North America. The Company had been impacted by the higher interest rate environment and growing delinquencies in the portfolio. AEG’s role included developing and evaluating multiple restructuring options, identifying the most cost-effective execution options, and working with the Agent and lender group to build agreement for a consensual restructuring with the debtor.
Crown Partners announces it has successfully arranged $30 million of senior financing from a leading US commercial bank for HGS BioScience, LLC (“HGS”), a portfolio company of Paine Schwartz Partners. The firm served as exclusive financial advisor to HGS in connection with this transaction. Crown was chosen for its specialized expertise in the asset-based financing market, which allowed HGS to access efficient low-cost growth capital by leveraging its asset base. Crown simultaneously arranged a revolving credit facility and equipment & IP term loan to maximize liquidity generated by the transaction.
Kevin A. Krakora, CTP, Managing Director with Getzler Henrich, has been appointed President and Chief Executive Officer of UniGroup C.A. UniGroup, parent company of well-known brands United Van Lines and Mayflower Transit, is a $1.5 billion transportation and relocation services company with headquarters in suburban St. Louis. Kevin is the head of Getzler Henrich’s automotive and transportation practice.
Mark Melickian of Raines Feldman Littrell LLP represented American Advanced Management, Inc. in its takeover of operations of Stockton, California’s distressed Dameron Hospital from Adventist Health Systems. The transaction, which closed December 2, steered the 200+ bed acute care facility clear of a looming disruption of operations and potential insolvency proceedings.
Concord Financial Advisors announces the recent closings of two senior debt transactions: 1) $5.0MM Senior Secured Revolving Line of Credit for a Consumer Products Remanufacturing Company located in the Midwestern U.S.; 2) $4.3MM Senior Revolving Line of Credit and Term Loan for a Wheat Germ Oil Extraction Company located in the Midwestern U.S. Concord served as the exclusive Financial Advisor for both transactions and closed both deals with fellow TMA members.
Republic Business Credit fundings: $15,000,000 ABL for a Southeast-based outdoor apparel manufacturer. Additionally, $3,000,000 ABL for a Texas solar installer; $1,500,000 ABL for a West Coast temporary staffing company; $1,000,000 factoring facility for a Pacific Northwest natural food manufacturer; and $750,000 factoring facility for an Alabama-based HVAC company.
November 1, 2024 – Dickinson Bradshaw bankruptcy attorney Jeffrey D. Goetz successfully helped Tabor Manor Care Center, a rural 46-bed nursing home, confirm a Subchapter V Chapter 11 bankruptcy reorganization before the U.S. Bankruptcy Court for the Southern District of Iowa. Goetz and Financial Advisor Ronald Winters of Gibbins Advisors, LLC, led a restructuring deal that allows the facility to continue providing valuable care services, employ 50 employees, and remain in the hands of the family who founded it in 1976.
HyperAMS is wrapping up 2024 with a strong auction and liquidation portfolio. Our firm has completed a series of auctions for Trendway’s Holland, Michigan plant; a green sand foundry in Minnesota; and most recently sanitary paper manufacturer Pacific Paper in Mississippi. HyperAMS is currently liquidating the M&E and real estate of six Besse Forest Product facilities, two of which are under contract as turnkey sales. Finally, HyperAMS is assisting The Room Place with 18 store closing sales in the Chicagoland area, as well as its main distribution center
Creative Planning Business Services, a leader in turnaround services, along with its counsel, Spencer Fane, is the recipient of the Minnesota Chapter TMA Mid-Size Transaction of the Year Award in 2024, for its work with Element LLC, a 70-million-galllon ethanol plant. As appointed Receiver, Creative Planning Business Services successfully liquidated assets, maintained the facility and secured a $44 million dollar sale that preserved all jobs. This marks Creative Planning’s third award in four years, highlighting the firm’s expertise in managing complex transactions.
