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Ormet Sale to Smelter Acquisition Approved by Bankruptcy Court

The U.S. Bankruptcy Court in Delaware approved the sale of Ormet to Smelter Acquisition, a portfolio company owned by private investment funds managed by Wayzata Investment Partners.

Ormet to Sell Assets to Wayzata for $221MM

Bloomberg reported that Ormet, the operator of an Ohio aluminum smelter, canceled a bankruptcy auction and will sell all of its assets to an affiliate of lender Wayzata Investment Partners for $221 million.

May 10, 2013 Bloomberg | Ormet | Wayzata | Wayzata Investment Partners ABFJ News

Wells Fargo, Wayzata Support Ormet Sale with DIP Facility

Ormet said it signed an asset purchase agreement with a portfolio company of Wayzata Investment Partners in connection with a proposed restructuring of Ormet. Wells Fargo and Wayzata are providing $90 million of DIP financing to support the agreement.

February 26, 2013 asset purchase agreement | DIP Facility Ormet Corporation | Ormet Corporation | Wayzata Investment Partners ABFJ News

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Tag Archives: Wayzata Investment Partners

Ormet Sale to Smelter Acquisition Approved by Bankruptcy Court

Ormet to Sell Assets to Wayzata for $221MM

Wells Fargo, Wayzata Support Ormet Sale with DIP Facility