Filtration Services Group Receives Stalking Horse Bidder
Will soon receive new ownership
WATERFORD, Mich. — Filtration Services Group (FSG) has received a stalking horse offer to purchase the company. The announcement was made by Keith Chulumovich, FSG chief restructuring officer.
If approved, FSG hopes to complete the transaction by the end of the year. It is expected that Bob Jackson, FSG president, will assist with the transition as new ownership and management is put in place.
In August of 2019, FSG filed for Chapter 11 bankruptcy protection after the company was unable to secure additional operational financing. In September, Keith Chulumovich of Bloomfield Hills, Michigan-based O’Keefe, a financial and operational management consulting firm, was appointed by the court as chief restructuring officer.
“Filtration Services Group possesses a longstanding reputation of excellence within the industry, outstanding employees and a strong foundation for growth,” said Chulumovich. “There has been significant interest in this company due to its exceptional customer relationships and extensive product line.”
Submit a press release here!