PSS Industrial Aims for Out-of-Court Restructuring With Lenders

PSS Industrial Group, owned by affiliates of Goldman Sachs’s merchant banking division, is in talks with its creditors on a potential out-of-court restructuring, according to people with knowledge of the situation.

The Houston-based industrial equipment supplier is weighing options that could include raising new money and ceding control to certain lenders, said the people, who asked not to be identified because the talks are private.

PSS has tapped law firm Kirkland & Ellis and investment bank Evercore Inc. to advance negotiations, the people said. Meanwhile, a group of lenders including Marblegate Asset Management and Angel Island Capital is ...