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Paladin Management handles the Chapter 11 filing of Denver’s Fluid Truck, which plans to use the proceeding to implement an orderly sale of its business to Kingbee Vans.
Launched in 2016, Fluid rents commercial trucks to clients ranging from small businesses to large retailers, enabling them to avoid the hassle and costs of vehicle ownership.
High inflation, delays in payment of insurance claims, and the downturn in the used vehicle markets hit Fluid’s business model.
The company also ousted its co-founders James Eberhard and Jenifer Snyder, and cut 30 percent of its staff two months ago.
Scott Avila, interim CEO and chief restructuring officer of Fluid, said the Chapter 11 filing and sale to Kingbee “not only secures the continuity of operations but also expands our customer offerings with a more comprehensive range of vehicle rental solutions.”
Paladin’s Liz Gonzalez handles the media for Fluid.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
Uber’s Mike Lucarelli is moving to NXP Semiconductors as senior VP-investor relations.
