Quantegy Inc. – This manufacturer of magnetic tape was the last producer of professional analog audiotape in the world when it was sold. The business sustained substantial losses as the customer base moved to alternative digital media and after its sales shrank from more than $100 million down to less than $30 million, the company filed for protection under Chapter 11, ceased manufacturing, and SC&H Capital was retained to sell the business.
SC&H quickly obtained multiple going concern offers for the business (including its 542,000 square foot plant in Opelika, AL). SC&H negotiated a nearly 100% price increase from the original offers, and Discount Tape was selected as the high bidder. Operations were restarted, and the sale was approved by the court, with closing occurring 14 days later. The new owners rehired most of the employees and operations continue in Opelika and around the world.
