Client: The Board of Directors of ABC-Naco, Inc.
Transaction: Sale of ABC-Naco to Three Cities Research in a Section 363 Transaction
Company Description: ABC-Naco is a premier supplier to the railroad equipment industry and to many of the railroads. The various units provided castings used on railcars, trackwork components, and wheel reconditioning services.
Summary: Plaisance Advisors conducted an expedited marketing of ABC-Naco to secure a stalking horse bidder to lead the bidding for the company during a Section 363 bankruptcy sale. The marking of the company included contacting dozens of potential bidders around the country and hosting facility tours at most of the company’s facilities. Three Cities was selected as the stalking horse. The other interested parties failed to out-bid Three Cities during the bankruptcy-sanctioned auction and as a result, Three Cities purchased the company.