Construction Firm Strike LLC Will Sell to Creditor in Bankruptcy

Construction company Strike LLC says it filed for Chapter 11 protection with a plan for its largest debt holder, private equity firm American Industrial Partners, to buy the company’s assets through a bankruptcy auction.

• AIP will provide $29 million of debtor-in-possession financing and serve as the stalking-horse bidder for Strike’s assets, according to a news release
• Sale is subject to higher or better offers, court approval, other conditions
• White & Case is legal counsel, Opportune LLP is financial and restructuring adviser
• Petition lists $100m to $500m of assets and liabilities
• The case is 21-90054, U.S. Bankruptcy Court for ...