On August 22, 2014, in case number 14-11659, the United States Bankruptcy Court for the District of Delaware approved the sale of substantially all of the assets of Massif Mountain Gear Company L.L.C., Debtor and Debtor in Possession to Samtech, LLC. Greenberg Glusker client Samtech was the successful bidder for $10.2 million at a Section 363 auction sale held on August 20, 2014.
Samtech, LLC is affiliated with MatchMaster Dyeing & Finishing, Inc. dba Antex Knitting Mills, based in Los Angeles, California. Massif is a supplier of a flame resistant army combat shirt. The acquisition enhances Massif’s supply chain through vertical integration, product innovation and rapid prototyping capabilities, while providing Antex/MatchMaster with an expanded infrastructure to meet the global needs of the civilian & military flame resistant clothing industry. The Massif brand will be maintained.
“The Massif team is thrilled to solidify our long standing relationship with our most important supplier,” said Noelle Christensen, vice president and general manager of Massif. “This acquisition will be seamless to our customers. The Antex team has been a huge part of our business since its start so we’re looking forward to growing the business together.”
“The Antex/Matchmaster team has worked closely with Massif for many years on development and production of flame resistant fabrics and garments,” said Bill Tenenblatt of Samtech. “We are very excited about this acquisition. It is a natural outgrowth of our long-standing partnership and we look forward to our next phase as one team.”
Greenberg Glusker attorneys Brian Davidoff
and Jeffrey Krieger
served as legal counsel for Samtech. Mr. Davidoff noted that Samtech overbid the stalking horse bidder which was an affiliate of Sun Capital. The process was completed in record time in light of the fact that the debtor and stalking horse purchaser had set an accelerated schedule from the time of noticing the sale to court approval. We assisted in guiding Samtech through the maze of requirements in becoming a qualified bidder and then negotiating and documenting the sale transition.
Attorney Patrick Reilly from Cole Schotz, Meisel, Forman & Leanard P.A. was co-counsel for the buyer in the transaction. Attorneys Morton Branzburg, Domenic Pacitti, Michael Yurkewicz and Michael Rittinger of the Law firm of Klehr Harrison Harvey Branzburg, LLP represented the Debtor in the transaction and Carlin Adrianopoli of Houlihan Lokey was the investment banker in the transaction.
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