The Company

Jacob North Printing Company

This Nebraska based, commercial printer, operating in Chapter 11.

The Challenge

Jacob North had seen sales drop significantly as the printing industry had gone through a number of contractions. They had been operating in Chapter 11 for over 4 months and with no path towards exiting, a liquidation was imminent.

The Process

Equity Partners was retained to explore going concern options despite the secured creditor’s desire to liquidate and belief no one would buy the business as it was losing so much money. Even the owner was resigned to liquidate, but within 5 weeks, Equity Partners completed an exhaustive marketing process which identified multiple going concern buyers.

The Solution

Equity Partners conducted an auction of the business with 2, qualified, going concern bidders and after several rounds of bidding, an entirety offer was selected that maintained operations, saved dozens of jobs and provided recovery to the estate that far exceeded liquidation estimates. The business continues to operate under new ownership without a single day of interruption for clients or employees. As a result of the process, Equity Partners was  also able to convince the secured creditor to release the owner from his personal guarantees.