Our distressed M&A practice combines the talents and experience of lawyers in our Business Restructuring Services Department and our M&A Practice Group to provide our clients sophisticated and comprehensive services. Clients call on us to assist them in the sale of a business or division as part of a restructuring or bankruptcy. Similarly, we represent a number of entities that regularly acquire stakes in, or the assets of, distressed or bankrupt businesses. In advising our clients – particularly on the “buy side” – we have learned that, irrespective of the size of the transaction, a successful distressed M&A deal requires that the client and its counsel quickly assess the condition of the seller; manage all parties’ expectations; move quickly, but prudently; and remain flexible to address the almost inevitable eleventh-hour problems. We believe that, by keeping both our client and ourselves focused on the “important” aspects of the deal, we reflect our firm’s practical and entrepreneurial spirit, but, more importantly, we deliver real value for our clients.
Sell Side Matters
- Forum Health in the sale of its hospital system as a going concern for more than $100 million.
- Lee Steel in the going concern sale in bankruptcy of a multi-location steel service center.
- Duke and King Acquisition Corp. in the sale of numerous Burger King franchises through a chapter 11 case.
- Twin City Hospital in a going concern hospital sale in chapter 11.
- A logistics company with $100 million of revenue in the sale of its business as an alternative to a bankruptcy filing and a liquidation.
- A $75 million retailer in the sale of the bulk of its stores to a non-strategic purchaser.
- A holding company with several subsidiaries in the disposition of two businesses and the raising of new capital.
- A PCS service provider in the sale of its network and customer lists.
- A private equity firm in acquisition of multiple distressed loans in various companies suffering in the 2015/2016 oil and gas downturn, with a plan to acquire control of the companies.
- A private equity group in the acquisition of an auto parts maker out of bankruptcy.
- A hedge fund in purchasing the debt of a company in distress with a plan to convert debt to ownership.
- A private equity group in the purchase of a capital goods maker.