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C Street Advisory Group handles Hoonigan as the marketer of auto enhancements and high-performance drivers’ gear declares Chapter 11.
The restructuring enables the Denver-based company to eliminate $1.2B in debt from its balance sheet and secure $570M in fresh capital.
Hoonigan CEO Vance Johnston said the bankruptcy will “position us to invest in innovation and further drive financial performance.”
The company will “remain laser-focused on providing cutting-edge products and best-in-class service to our partners throughout the process,” he added.
Johnston expects Hoonigan to emerge from Chapter 11 in about two months.
Hoonigan serves more than 30K retailers and markets brands such as American Racing, Black Rhino, TeraFlex, Fuel Off-Road, KMC and Morimoto.
ZM Communications represents Cerebras Systems as the Sunnyvale, CA-based company prepares a much-anticipated initial public offering.
H/Advisors Abernathy handles TPG as the alternative asset management firm acquires AT&T’s 70 percent stake in DIRECTV for $7.6B.
Lifeway Foods is using Longacre Square Partners as it receives a non-solicited and non-binding takeover offer from the US arm of France’s Danone, the world’s No. 1 marketer of fresh dairy products.
Edelman Smithfield is working Tupperware Brands' Chapter 11 as the 75-year-old direct sales-marketing to homes company puts itself on the auction block.
ICR Westwicke is handling the $975M IPO of Atlanta-based Guardian Pharmacy Services.
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