American Industrial Partners has acquired the operating assets of Potomac Supply Corp. Financial terms weren’t announced. Potomac Supply Corp., of Kinsale, Va., makes wood products such as treated lumber, wood pellets, decking, fencing and pallets. The company filed Chapter 11 bankruptcy protection earlier this month. Jim Decker of Morgan Joseph advised Potomac along with Stephen Clarke, Alex Fisch and Si Li.
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Centre Lane Partners has acquired the Merit Group, a Spartanburg, S.C.-based supplier of paint sundries. Centre Lane is paying $46 million for Merit, which filed a voluntary Chapter 11 petition on May 17, 2011. News of the sale was disclosed by Morgan Joseph TriArtisan which advised Merit in its sale.
NEW YORK (Reuters) – Distressed debt restructurings are expected to increase this year among midsized U.S. companies as credit begins to flow more freely to smaller borrowers, a report says. The revival in the corporate debt and loan markets has mostly benefited larger borrowers, noted the restructuring report by the investment bank Morgan Joseph & [...]
Mitchell Stern has joined Morgan Joseph & Co. as a managing director, in the firm’s healthcare investment banking group. He previously was head of healthcare and life sciences investment banking at SMH Capital.