Gores Group Buys National Envelope Assets For $150M

Law360, New York (August 23, 2010, 6:34 PM EDT) -- A federal bankruptcy judge signed off Monday on the $150 million sale of National Envelope Corp.’s assets to the Gores Group LLC — a private equity firm and stalking horse bidder — after the lingering objections of lenders, insurance companies and municipalities were resolved.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware gave final approval to the sale to NEV Holdings LLC, an affiliate of Gores formed specifically to purchase NEC. The private equity firm’s opening bid was $134.5 million...
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