ACM Capital Aids B&F Marine in Emergence From Bankruptcy
National restructuring and turnaround firm ACM Capital Partners announced that its client, B & F Marine, Inc., one of Miami’s oldest marine retailers, has successfully emerged from protection under Chapter 11 of the United States Bankruptcy Code.
“We’re pleased that B&F Marine, a local institution, has been restored to its stakeholders and achieved the stability it needs to move forward,” said Jim Martin, managing partner of ACM Capital Partners.
The restructuring plan received unanimous approval from the creditors. Plan confirmation without any dissenting creditor is unusual and is a testament to the business owners and professionals that served on the deal.
“As difficult as the restructuring has been, our doors remained open throughout as they have since 1961,” said Antonio Veciana, Jr., president of family owned B & F Marine. “We are coming out stronger and will continue to serve our clients and suppliers for many more years thanks to the good work of ACM Capital Partners and Infante Zumpano,” he added.
“ACM was instrumental in its ability to communicate with creditors on a business level and lend credibility to performance projections, key parts of any successful restructuring,” said Luis Salazar, attorney for B & F Marine and chair of the Infante Zumpano’s business reorganization and bankruptcy practice.
Headquartered in Miami, ACM Capital Partners is a national turnaround and financial restructuring firm specializing in assisting middle-market companies in transition or distress.