Katy Industries Inc.

• 5/14/17 Recap: St. Louis-based manufacturer, importer and distributor of commercial cleaning (brooms, brushes and mops) and consumer storage products filed for bankruptcy to effectuate a 363 sale to an affiliate of private equity sponsor Victory Park Capital Management. The company has been around forever, it seems, but recent acquisitions, failed integration, unrealized synergies, and operational pitfalls appear to have hit the company hard and strained liquidity. Hence, bankruptcy.
• Jurisdiction: D. of Delaware
• Capital Structure: $31.5mm debt (Encina Business Credit SPV LLC)    
• Company Professionals:
  • Legal: DLA Piper LLP (John Lyons, Daniel Simon, Stuart Brown, Oksana Koltko Rosaluk)
  • Financial Advisor/CRO: SierraConstellation Partners LLC (Lawrence Perkins)
  • Investment Banker: Lincoln International Inc. (Alexander Stevenson)
  • Claims Agent: JND Legal Administration (*click on company name above for free docket access)
• Other Parties in Interest:
  • Buyer: Jansan Acquisition LLC (Highview Capital LLC & VPCM)
    • Legal: Skadden Arps Meagher & Flom LLP (Lisa Laukitis)
  • Sponsor: Victory Park Capital Management
  • Encina Business Credit SPV LLC
    • Legal: Goldberg Kohn Ltd. (Jeremy Downs, Zachary Garrett) & (local) Reed Smith LLP (J. Cory Falgowski)
  • Successor Trustee: Wells Fargo Bank NA
    • Legal: Morgan Lewis & Bockius LLP (Rachel Jaffe Mauceri)
  • Official Committee of Unsecured Creditors
    • Legal: Drinker Biddle & Reath LLP (Steven Kortanek, Andrew Flame, Patrick Jackson, Robert Malone)
    • Financial Advisor: Emerald Capital Advisors (John Madden)

Updated 7/12/17