A New Jersey-based contract cosmetics packaging company filed Chapter 11 after the loss of several key accounts.
The company had unsuccessfully attempted to confirm a sale to Harmon Associates two previous times while under Chapter 11 protection.
The trustee hired Equity Partners to run an extensive campaign to uncover all interested parties. Our process uncovered over ten additional prospective buyers who conducted site visits and evaluated the financials.
Two offers were generated by Equity Partners with the sale closing to Harmon Associates. Our process generated an offer that was all cash, had no contingencies, and had a 28% higher purchase price than had been previously considered. When the sale closed, Dongar continued operations and was able to retain its employees, including the former owner.