Short Bark, a manufacturer and supplier of high performance tactical and strategic combat gear, sold most of its assets to an affiliate of fellow gear-manufacturer Point Blank Enterprises, a portfolio company of equity firm JLL Partners. The sale was part of a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware. SSG Capital Advisors acted as the investment banker to Short Bark.

Short Bank experienced operating losses and constrained liquidity for a number of years. While the company attempted to rebuild the revenue base and right-size the operating expenses, it wasn’t able to do so without a significant new equity infusion. Though it had been awarded contracts with branches of the U.S. military and had a large backlog – positioning Short Bark well for significant revenue growth and profitability – it lacked capital to fund a turnaround.

Short Bark filed for Chapter 11 protection in Delaware in July 2017. SSG came in to conduct a comprehensive marketing process toward strategic and financial buyers, leading to multiple bids. SSG ultimately deemed Point Blank’s bid the highest and best price for the company’s assets after it topped the stalking horse bidder at an auction.

The sale will preserve nearly 500 jobs while maximizing stakeholder value.