Gulf
Atlantic Capital Sells $65 Million Manufacturer for Twice the Expected Price.
Has Acquired the Assets of
Greenwood, Mississippi
$19,000,000
The undersigned
initiated this transaction and
structured/negotiated the terms
of sale of the Company's asset
pursuant to section 363 of the
Bankruptcy Code.
Gulf
Atlantic Capital Structure Led to Sale in 90 Days.
National Picture faced an uncertain future due to foreign competition in the framed art market.
As restructuring advisor developed the Company’s viable strategic options integrating the secured lender’s unwillingness to fund operating losses.
Developed a sale memorandum and contacted over 70 potential strategic and financial buyers.
Created a competitive environment that doubled the transaction value over the initial offer price.
Through a Chapter 11 sale process closed a transaction within 90 days thereby minimizing disruption to operations.
