Grand Eagle operated more than 30 separate motor repair locations along with two motor, switchgear, and transformer manufacturing facilities.
Following years of weak operations and declining sales, the company filed for Chapter 11 bankruptcy protection.
A Principal of Candlewood Partners was selected by the company’s creditors and approved by the Department of Justice as the Chapter 7 Trustee for the company. As such, he was charged with managing the wind-down and sale of the company’s aforementioned assets, which included over 30 separate locations. Candlewood Partners implemented a sophisticated management reporting and control system, which allowed for the efficient reporting and control of each of the business units while also preparing each for its ultimate sale. Following several months of marketing, each of the separate business locations was sold in a series of more than 20 unique transactions, which were completed during the course of a six-week period.