Congratulations to the Real Alloy Holding Inc. noteholders who survived the bidding period and now own the company.
The U.S. Bankruptcy Court approved the sale of Real Alloy to its noteholders, led by DDJ Capital Management, who submitted a stalking horse bid for total consideration valued at $364 million. They also assume “significant liabilities,” according to the press release.
The purchase price comprises a cash payment, the assumption of certain liabilities and a credit bid of $184 million. The sale includes all of the operations owned and operated by Real Alloy in Canada, Germany, Mexico, Norway, the UK and U.S.
"Under this agreement, Real Alloy will remain under ownership that has a firm understanding of the company’s operations and looks to drive future growth and profitability,” Real Alloy President Terry Hogan said in a statement. Hogan added that the company will maintain its headquarters in Beachwood and that closing is subject to regulatory approval.