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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.

September 01, 2022 • By Lauren Croft
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Armstrong Flooring sold at auction following bankruptcy
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Firm: Piper Alderman (Cowes Bay Group)

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Deal: Piper Alderman has advised the Cowes Bay Group generally on the acquisition of substantially all the business and assets of Armstrong Flooring Pty Ltd, a manufacturer and distributor of resilient flooring products in Australia and New Zealand, as part of a court-supervised auction and Chapter 11 bankruptcy proceeding relating to Armstrong Flooring Pty Ltd’s US parent.

 
 

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.

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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.

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Lauren Croft

Lauren Croft

Author

Lauren is the commercial content writer within Momentum Media’s professional services suite, including Lawyers Weekly, Accountants Daily and HR Leader, focusing primarily on commercial and client content, features and ebooks. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications. Born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. 

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