The Company

Tech Space, Inc.

An Iowa-based manufacturer of prefabricated modular laboratories.

The Challenge

Tech Space had taken more debt than their revenue could support. They became insolvent and were nearing liquidation. They were still operating but needed a way to reduce their debt load or the secured lenders were going to liquidate the assets.

The Process

Equity Partners was retained to conduct an extensive marketing process in search of new money, a joint venture partner, or a buyer of the business as a going concern. Within three months, Equity Partners uncovered several interested investors.

The Solution

Through negotiations, Equity Partners closed a transaction, selling the company as a going concern to Artsway Manufacturing, which had purchased another Equity Partners clients in the past. As a result, the recovery was maximized in a way that could not have been achieved through a liquidation, employees were retained, and the company continues to operate.