10/27/16 Recap: Distributor of parts for earth-moving equipment made by the likes of Caterpillar and Deere files for bankruptcy due to decreased revenues. The WSJ highlights that the company doesn't specify what caused the decline but it's pretty obvious: both CAT and DE new builds are down as farmers and others rely more heavily on rentals given depressed commodity prices.
Jurisdiction: N.D. of Texas
Capital Structure: $27mm funded ABL (Wells Fargo)
Company Professionals:
Legal: Gardere Wynne Sewell LLP (Marcus Helt, Thomas Scannell, Mark Moore)
10/17/16 Recap: Manufacturer of ceramics, transducers and sonar equipment sold to the US Navy and defense contractors like Northrop Grumman, Lockhead Martin and Raytheon files for chapter 11 to address onerous long-term contracts and attempt an expeditious sale of the business.
10/4/16 Recap: private integrated midstream oil and gas services provider files for chapter 11 to re-invigorate and effectuate a failed (363) sale process prior to filing.
