Emission Solutions, Inc.
Texas-based, developer, converter and marketer of OEM, medium-heavy duty CNG (compressed natural gas) engines.
ESI was one of only two companies converting diesel engines to natural gas engines, certified for EPA and CARB Emission Standards. After the loss of a major customer, the company was put into an involuntary Chapter 11 and heading to a Chapter 7 conversion and liquidation when Equity Partners was retained.
Equity Partners quickly completed a 30 day marketing process and generated 4 potential stalking horse offers. The bankruptcy court approved one and scheduled an auction a few weeks later.
Equity Partners conducted an auction of the assets with 3 going concern bidders and after 13 rounds of bidding, the winner was selected. Closing occurred 7 days later and the new owner began reconstituting the business immediately.