AloStar Capital Finance announced that the acquisition of Fenix Parts by Stellex Capital Management has been recognized as the “Out-of-Court Restructuring of the Year” in the under $100 million category in the 13th Annual Turnaround Awards by The M&A Advisor.
Earlier this year, AloStar successfully agented and closed a $20 million committed credit facility to facilitate the recent acquisition of Fenix Parts, a recycler and reseller of original equipment manufacturer automotive products, by Stellex Capital Management, a middle market private equity firm with offices in New York and London. Stellex, in partnership with a group of auto industry veterans, acquired Fenix in April 2018.
“Our team worked meticulously to deliver a custom capital solution that supported Stellex’s acquisition of Fenix Parts, and we’re thrilled to see this deal recognized by the Turnaround Awards,” said Andy McGhee, president of AloStar Capital Finance. “This distinguished award acknowledges the efforts of a team of experienced and diligent finance professionals, working together on behalf of our clients to achieve the best possible results.”
Now in its 20th year, The M&A Advisor was founded to offer insights and intelligence on mergers and acquisitions, establishing the industry’s leading media outlet in 1998. Today, the firm is recognized as the world’s premier leadership organization for mergers & acquisition, restructuring, and corporate finance professionals.
The awards will be presented at a black tie gala on Thursday, March 28, 2019 at The Colony Hotel in Palm Beach, Florida.