Easton based Equity Partners HG, a premier M&A advisor in special situations, announced the successful closing of the sale of the assets of Blissfield Manufacturing (Blissfield) to BMG Global, LLC. Equity Partners HG had acted as the investment banker and exclusive sell-side advisor.
Equity Partners HG effectuated the going concern sale, which closed on November 21, 2016, through an Article 9 foreclosure, in cooperation with the company’s secured creditor.
Founded in 1946, Blissfield is a 4th generation family-owned business that specializes in heat transfer technology within the automotive, off-highway vehicle, commercial refrigeration, and industrial equipment markets. Recent changes in technology resulted in obsoleting the need for many of the products supplied to the company’s largest customers, which greatly reduced the its annual revenue. To make up for these losses, the company rolled out its “Green Technologies” division, which consists of a variety of environmentally-friendly products ranging from restaurant filtration to waste-water remediation systems. Unfortunately, Blissfield has struggled to find the proper distribution channels for these products and was running out of the necessary cash to run the business.
Equity Partners HG was retained to quickly market the assets in an attempt to secure a buyer or investor that would continue operations and help Blissfield get their environmental products launched on a much wider scale.
About Equity Partners HG
Equity Partners HG, formerly known as Heritage Equity Partners, provides boutique investment banking services. Recognized as the nation’s leader in maximizing value for distressed businesses and properties, Equity Partners HG uses a proven process that has provided solutions for over 450 clients throughout the United States since 1988, preserving more than 40,000 jobs. Equity Partners HG is a wholly owned subsidiary of Heritage Global Inc. (OTCQB: HGBL and CSE: HGP). For more information, visit HGinc.com and EquityPart
