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Armstrong Flooring sold at auction following bankruptcy
The Australian subsidiary of a US entity, Armstrong Flooring, Inc, has been acquired by a private investor after being the subject of a bankruptcy case in the US courts.
Lauren Croft
Firm: Piper Alderman (Cowes Bay Group)
Value: Undisclosed
Area: Merger and acquisition
Key players: The Piper Alderman deal team (in collaboration with Vinson & Elkins LLP), was led by principal Bruce Cameron, with support from partner Carlyna Chhen, principal Chris Hartigan, senior associate Jack Bourke and associate Andrew Cutler.
Deal significance: Armstrong Flooring Pty Ltd is the wholly owned Australian subsidiary of a US entity, Armstrong Flooring, Inc, which is the subject of a Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware.
A court-supervised auction was commenced for the sale of Armstrong Flooring, Inc and its assets, including the business and assets of Armstrong Flooring Pty Ltd.
With the assistance of Piper Alderman, the Cowes Bay Group participated in the auction process, and was the successful bidder, for the business and assets of Armstrong Flooring Pty Ltd.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
