SSG Capital Advisors acted as the investment banker to Unicon Acquisition in the sale of substantially all of its assets to a private equity buyer. The transaction was effectuated through a sale of the senior secured debt and a subsequent transaction pursuant to Article 9 of the Uniform Commercial Code. The transaction closed this month.

After successfully navigating the live poultry logistics industry as a manual harvester for 17 years, the company decided to invest in automating the harvesting process to combat a challenging labor market in 2015. That decision proved successful, as the company experienced growth following the implementation of the first automated harvester in 2016. However, the strategy also proved to be capital intensive, and as a result, the company sought a strategic or financial investor to strengthen its capital base and provide adequate liquidity to further support its growth initiatives.

SSG was retained by Unicon to assist in the exploration of strategic alternatives. SSG conducted a comprehensive marketing process and attracted interest from multiple parties that engaged in a thorough review of the business. A private equity buyer ultimately prevailed in the process and purchased the assets through a UCC Article 9 sale, which was completed in an expedited timeframe and allowed the company to maintain engagement with its customer base.