363 Sale of Telecomm Equipment Reseller and Repair Company
Listing Information
363 Sale of Telecomm Equipment Reseller and Repair Company
Price: $732,500.00
Created: 09/11/2015
Category: Business Property > All Assets or Going Concerns > Technology Hardware & Equipment
Sale Location: Bloomfield Hills, Michigan
Sale Date: Wed. Sep 30, 2015
Primary Office Location: 1450 Highwood East, Pontiac, MI 48340
Seller's Agent
300 Park Street, Suite 100
Birmingham, MI 48009
(248) 723-7933
Case Title: Telesource Services, LLC
Court: Michigan Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Description
363 Sale for a Telecommunications Equipment Repair and Reseller. Trailing 12 month revenue of $11.5 million, and saleable assets of $2.5 million at book value. Qualified bids are due by September 25, 2015.
Financial Overview
Sale Location
Bloomfield Hills, MI, 48304
Additional Details
Telesource repairs, remanufactures, reconditions, and resells commercial telecommunication equipment including voice and data networking equipment. Customers include Fortune 1000 customers, universities, hospitals and governmental entities. The company has strong relationships with nearly 1,500 customers in various industries throughout the U.S. and internationally, and has longstanding customer relationships with several of the largest industry leaders. Founded in 1986, it operates in Michigan and Illinois, and currently has about 95 employees. It is also strategically positioned for expansion into the high-growth mobile device market, operating under the dba of Mobile Device Depot.
The Company has trailing 12 month revenue of $11.5 million, and saleable assets of $2.5 million at book value (AR, Inventory and M&E).
In order to obtain further relevant information about this opportunity, all interested parties will be required to execute a non-disclosure agreement. SoTel Systems Illinois, LLC was recently approved as the stalking horse bidder for the Debtor’s assets, and a copy of its term sheet will be provided as part of due diligence. A qualified bid must be at least as high as the stalking horse bid, in addition to other requirements in the detailed bidding procedures. The following are key dates related the bidding procedures:
September 25, 2015 – Bid deadline for parties to submit competing bids. September 28, 2015 – Auction scheduled for all Qualified Bids received by Debtor. September 30, 2015 – Hearing date on the Sale Motion for the approval of the sale of assets