Duratek Precast Technologies, Inc. has continued operations through a transaction with Oldcastle Precast, Inc.
Duratek Precast Technologies, Inc. – This Florida–based precast concrete company had been operating in bankruptcy for 4 months after revenues had dropped significantly. With no plans to exit and the secured creditors pushing for a liquidation, SC&H Capital was retained by the company and given 60 days by the secured creditor to secure alternative options.
Within 60 days, SC&H’s process generated two going concern bids, the value of which far exceeded any liquidation estimate, and after a lively auction, the business was sold to the largest concrete manufacturer in the world. Operations continued with minimal disruption.