Brook Furniture Rental (the “Company”) is a provider of rental furniture for corporate housing, student housing, and residential staging. COVID-19 disruptions significantly reduced demand across its core customer segments.
Liquidity pressures led to a default under the Company’s credit agreement and prompted an evaluation of strategic alternatives, including the sale to either a financial or strategic buyer.
Ultimately, the Company’s lender facilitated the combination of the Company with another of its borrowers in the same industry segment in a restructuring designed to maximize value across both platforms.
Note: This transaction was completed by Managing Director at prior firm.
