 |
FTI Consulting handles Ascend Performance Materials, chemicals/engineered products company, as it files for Chapter 11 in an effort to “deleverage” its balance sheet.
The bankruptcy process is pitched “as a value-maximizing restructuring transaction” that will enable Ascend to emerge from Chapter 11 as a healthy, well-capitalized business.
Lenders have extended $250M in debtor-in-possession financing to Ascend, which is expected to support the company’s Chapter 11 journey over the next six months.
CEO Phil McDivitt has been working with creditors over the past few months to plot the future for Ascend.
He said Chapter 11 will enable Ascend to become “an even stronger company with a healthier financial structure and better positioned to continue delivering high-performance materials that improve the lives of our customers.”
Headquartered in Houston, Ascend has regional offices in Detroit, Brussels and Shanghai.
FTI Consulting’s Rose Temple and Rachel Chesley work the Chapter 11 filing.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
FGS Global keeps its position at the top of the heap in Mergermarket’s rankings of the top PR advisors in M&A deals for 1H26.
