Background: Moviefone, a subsidiary of Helios and Matheson Analytics, Inc., is an entertainment information and marketing service that delivers movie showtimes, trailers, TV schedules, streaming information, cast and crew interviews, and editorial coverage.
Cassel Salpeter:
Served as financial advisor to the Company
Conducted a robust sales process, identifying and contacting a broad set of strategic and financial parties
Provided assistance throughout all phases of the Chapter 7 Section 363 sales process, due diligence, and auctions
Challenges:
Moviefone was losing value over time due to limited attention and resources; the assets needed to be sold in a short time frame in order to preserve value
Limited information and resources available at the Company
Maximizing the value of the estate during a global pandemic
Outcome: On March 19, 2020, the court approved the sale of the Moviefone assets to Born In Cleveland, LLC. Additional assets were also sold as part of the bankruptcy sales process.
https://www.casselsalpeter.com/wp-content/uploads/2020/11/MovieFone.png300300roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2020-04-01 20:20:372024-01-11 17:47:28Moviefone Assets sold to Born In Cleveland, LLC
Background: FlaglerCE Holdings, LLC (“Flagler”), founded in 2008 and based in Tampa, FL, engages in the sale, rental, and servicing of heavy construction equipment. Flagler has the exclusive rights to distribute Volvo Construction Equipment in the state of Florida. Flagler operates six main branches across Florida.
Cassel Salpeter:
Served as financial advisor to the Company
Ran a competitive bidding process amongst a select group of potential buyers, maximizing proceeds for Flagler’s stakeholders
Provided assistance throughout all phases of the sale process
Challenges:
Distressed operations with short timeline to close the deal
Multi-constituent transaction that required the successful funding of a Special Purpose Acquisition Company (SPAC)
Outcome: On February 14, 2020, Alta Equipment Company acquired Flagler.
Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the U.S. Alta Equipment Company merged with B. Riley Principal Merger Corp., a SPAC, and changed its name to Alta Equipment Group Inc.
https://www.casselsalpeter.com/wp-content/uploads/2020/11/Flagler.png300300roaradminhttp://www.casselsalpeter.com/wp-content/uploads/2021/05/CS-Logo-for-Assets-Post-10-Year-Branding_Website_04.28.21_Draft01.pngroaradmin2020-02-01 20:23:532024-01-11 17:46:31Alta Equipment Company acquired Flagler
