Acquisition of flooring products manufacturer by private investors
Piper Alderman has advised the Cowes Bay Group generally on the acquisition of Armstrong Flooring Pty Ltd, a manufacturer and distributor of resilient flooring products.
Armstrong Flooring Pty Ltd was the wholly owned Australian subsidiary of a US entity, Armstrong Flooring, Inc., which was the subject of a Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware.
A court-supervised auction was commenced for the sale of Armstrong Flooring, Inc. and its assets, including the business and assets of Armstrong Flooring Pty Ltd.
With the assistance of Piper Alderman, the Cowes Bay Group participated in the auction process, and was the successful bidder, for the business and assets of Armstrong Flooring Pty Ltd.
Piper Alderman advised the Cowes Bay Group on the acquisition of substantially all the business and assets of Armstrong Flooring Pty Ltd, a manufacturer and distributor of resilient flooring products in Australia and New Zealand.
The deal team was involved in all stages of the transaction, including preliminary negotiations, preparation and submission of bid, drafting and negotiating the US and Australian asset purchase agreements and land sale contracts, and other related matters. Piper Alderman’s experience in corporate and commercial issues ensured that the deal was completed successfully.