Wright Plastics Company
This company had operations in Alabama and Georgia manufacturing polyethylene film and bags.
After spending significant capital to develop a new, state-of-the-art plant in Alabama, the company was cash strapped and had to shut down both of their plants. The challenged was exacerbated by the Georgia plant being antiquated and the Alabama plant having no sales to speak of.
Equity Partners was retained and conducted a global marketing campaign that brought written offers and deposits from eight buying groups.
Equity Partners negotiated the sale of the Alabama plant for well over $9 million (excluding inventory and receivables). Operations were re-started and employees were able to return to work. The Georgia plant was bought by an equipment reseller, while Equity Partners simultaneously brokered a consensus among secured creditors as to how sale proceeds would be allocated and liens released.