Capstone Partners’ Financial Advisory Services (FAS) team advised on the § 363 sale of Lightning Technologies, a portfolio company of Grow Michigan, a subordinated-debt fund backed by the State of Michigan. The FAS team was initially retained to assist the secured lender in an Article 9 foreclosure sale and was subsequently appointed by the Bankruptcy Trustee when the case was converted to Chapter 7.
Lightning Technologies manufactures pallets with an indestructible coating that allows them to be sterilized for use in shipping sensitive items such as food, pharmaceuticals, and electronics. Additionally, the pallets contain RFID sensors, which are able to transmit important logistical data including location, temperature, and humidity.
The buyer, Palltronics, is an investment group consisting of some of the original shareholders of Lighting Technologies.
