SSG Capital Advisors served as the investment banker to Wiser Solutions and its affiliates in the sale of substantially all assets to an affiliate of Crestline Direct Finance. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of Texas. The transaction closed in July 2026.
The company sought to build a comprehensive SaaS-based retail analytics platform through an aggressive roll-up strategy. Despite completing over ten acquisitions since 2013, the company incurred persistent losses as the pace of acquisitions outpaced the company’s ability to consolidate platforms. As a result, the company found itself managing a portfolio of SaaS products with different features, capabilities and processes. In response to these challenges, the company pursued cost savings measures, including consolidating its data extraction systems, rightsizing its workforce and shuttering non-core product offerings. However, the company was unable to meet its financial obligations and, as a result, elected to file for protection under Chapter 11 of the U.S. Bankruptcy Code.
SSG was retained to conduct a comprehensive marketing process and solicit competing offers to the stalking horse credit bid from an affiliate of Crestline Direct Finance. After extensive outreach to a broad universe of strategic and financial buyers, the stalking horse credit bid was determined to be the highest and best offer for substantially all assets. SSG’s Chapter 11 transaction experience and ability to efficiently execute a comprehensive remarketing process enabled the company to maximize the value of assets for the benefit of stakeholders.
Other professionals who worked on the transaction include:
- Scott Avila, Don Harer (co-chief restructuring officers), Michael Richards (interim CEO), David Elkin and Paula Sosamon (financial advisor) of Paladin Management Group
- Todd M. Schwartz, Christopher R. Bryant, Danielle Ullo, Michael Haberman and Allison Bertolozzi of Hogan Lovells US, co-counsel to Wiser Solutions
- Katharine Battaia Clark, Jacob T. Schwartz and Alexandra E. Rossetti of Thompson Coburn LLP, co-counsel to Wiser Solutions
- Mark Greenberg, Seth A. Waschitz and Kabir Singh of Alvarez & Marsal North America, financial advisor to the unsecured creditors committee
- John D. Penn, Michael A. Sweet, Gordon E. Gouveia and Stephanie Slater Ward of Fox Rothschild, counsel to the unsecured creditors committee.
