Arandell Finalizes Sale to Private Equity Firm, Successfully Exits Chapter 11 Bankruptcy (piworld.com)
Arandell Holdings, Inc. announced that it has finalized an agreement approved by the U.S. Bankruptcy Court for the District of Delaware that calls for Saothair Capital Partners to invest in the business, clearing the way for emergence from Chapter 11 of the U.S. Bankruptcy Code. “Saothair’s investment is a testament to the overall strength of our business model and market position,” said Brad Hoffman, President and CEO of Arandell. “We’re excited to complete the process and move forward as a company, continuing our recent growth into 2021 and beyond.” Under the agreement, an affiliate of Saothair, a private equity firm based in the Philadelphia area, will become the controlling shareholder of the Company’s business and assets.