Facebook Twitter LinkedIn Email Share

What's the Deal

Ravinia Capital LLC is pleased to announce the sale of Rex Electric and Technologies, LLC, a Chicago-based electrical and technology contractor, to Chugach Alaska Corporation. Ravinia Capital was sell-side advisor to Rex on the transaction.   “Due to the nature of the construction industry, it was crucial to find the right strategic and financial partner for Rex,” said Tom Goldblatt, President of Ravinia Capital. “Chugach and Rex are a fantastic fit, both strategically and culturally.”


On January 27, 2017, The M&A Advisor announced the Refinancing of Chicago American Manufacturing & its Affiliated Companies (“CAM”) as its “Refinancing Deal of the Year (Under $250MM)” for its 11th Annual Turnaround Awards Program.  As counsel to the Borrowers in the refinancing transaction, The M&A Advisor has recognized Sugar Felsenthal Grais & Hammer LLP for its role as counsel to CAM in its refinancing transaction.


Central Iowa Healthcare has engaged Sugar Felsenthal Grais & Hammer as its special healthcare reorganization counsel during its chapter 11 reorganization pending before the Bankruptcy Court for the Southern District of Iowa.  In this capacity, SFGH is charged with advising and assisting the Debtor in connection with the special and unique legal issues arising from and in connection with a Healthcare Business case as defined in Bankruptcy Code Section 101(27A), such as the transfer of healthcare business assets during the pendency of a bankruptcy case


David Johnson of Abraxas Group has been named Interim CFO of a $180MM private equity backed industrial company.  This engagement highlights Abraxas Group’s focus on high value interim executive roles in the middle market.


Jake Miller of Oak Point Partners announces the purchase of all remaining known and unknown assets in the A & N Packaging Bankruptcy Case (Case No. 15-42555, US Bankruptcy Court, Northern District of Illinois).  The Remnant Purchase Deal brought additional cash to the Estate at the end of the Case and also helps the Trustee avoid the hassle of something showing up after the Final Report that can be costly to resolve and typically isn’t big enough to justify reopening the case.


Loeb Winternitz Industrial Auctioneers and Yellen Partners have completed the following deals together:  Successfully sold assets from a Michigan CNC Precision Prototype Facility to a Strategic Buyer.  Announced this week that they have facilitated the sale of the assets of Paramount Machining Solutions as a complete operation, to Global Manufacturing Industries.  As a result, any scheduled auctions have been cancelled.  Lastly, Loeb Winternitz and Yellen Partners simultaneously worked with the Court appointed Receiver as seller, and GMI to negotiate the sale of the facility as a whole.   


Concord Financial Advisors, LLC (Milwaukee, WI Office) Secures $2.25 Million of Credit Facilities for a Wisconsin Supplier of Electrical Products to refinance its existing debt and support working capital.  Concord conducted a targeted and efficient deal process with regional and national asset-based lenders to procure the most appropriate financing structure for the Company.  An East Coast Family Office provided a $2.5 million senior secured, asset based loan and the existing lender, a national bank, took back a $1.0 million junior secured note.  Concord Financial Advisors is a financial intermediary specializing in private placements of senior debt and subordinated debt/mezzanine financing for middle market companies. 


HYPERAMS Director of Business Development, Kathleen Parker, announced the company will complete several large auction projects in the first quarter, including Busch Precision, a Milwaukee-based precision machining facility accompanied by intellectual property.   Other notable auctions to be completed include Illinois-based metal fabricator Austin-Westran and Canadian radar and laser-detection equipment manufacturer ESCORT. 


Kugman Partners conducted a comprehensive analysis of the financial and operational systems of Landcare, LLC, a top-ranked national commercial landscape company, to assist management in its evaluation of the business and of financing options (Quality of Earnings).  Kugman Partners evaluated the progress of Landcare’s profitability initiatives and projected performance. Our findings provided management with the specific information they needed to continue development and implementation of their strategic plan, including the placement of a new loan facility to support expanded operations, facilitating their continued significant growth and success.


Commercial Recovery Associates, LLC was retained as a financial advisor by a large, longstanding Chicago church.  The church lost its primary tenant for its school facilities, making it difficult to service its mortgage loan.  CRA identified the church’s liquidity issues, prepared a 26-week operating budget, and crafted a restructuring plan.  With Fox Swibel, CRA and the church are working with the lender in restructuring the church’s finances and identifying prospective tenants for the school.       


AEG Partners’ recent engagements include advising a leading Midwest based automotive components manufacturer on managing near term liquidity issues and identifying operational improvement opportunities; and serving as restructuring advisor to the agent of a $75 million secured credit facility for a North American logistics company, including evaluating liquidity requirements, assessing the financial plan and turnaround initiatives, and evaluating strategic alternatives. 


Vincent Orlando of Tuscany Management Group is pleased to announce his firm has completed the turnaround of two businesses:  A site work contractor and a fire protection company, saving 58 jobs.


Goldstein & McClintock LLLP has recently (a) negotiated a multi-party settlement on behalf of an official committee of unsecured creditors in a Portland, Oregon bankruptcy case of a medical device manufacturer that should result in unsecured creditors recovering as much as a 50% distribution in a case where the secured lender was substantially undersecured; (b) represented a borrower in the unwind of its new markets tax credits and subsequent $3.2 million refinance of a loan secured by multiple real estate locations operating a healthcare practice in Wisconsin; (c) represented an auction company as a secured lender in its financing of a private equity firm’s acquisition of a manufacturing company’s stock (auction firm to sell equipment post-closing); (d) represented a bankruptcy trustee in a multi-million dollar fraud and breach of fiduciary duty case against the debtor’s former insiders and associated parties; (e) represented a liquidating trustee in breach of fiduciary duty claims against the debtor’s former managers; (f) represented a federal equity receiver in a legal malpractice claim; and (g) added Robert Michaels as a new partner; Mr. Michaels is an experienced litigator whose practice focuses on fraud and professional liability matters, as well as software and technology disputes.