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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.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
