Judge OKs $80M Sale Of Bowe Bell & Howell To Versa

Law360, Wilmington (June 2, 2011, 6:25 PM EDT) -- Mail sorting machine maker Bowe Bell & Howell won a Delaware bankruptcy court’s blessing Thursday to sell its assets to private equity firm Versa Capital Management Inc. for an $80 million credit bid after a planned auction failed to produce any other suitors.

Wheeling, Ill.-based BBH, parent company Bowe Systec Inc. and several affiliates filed for Chapter 11 protection April 18, citing an ill-fated 2003 merger with Bowe Systec AG and an inability to refinance their secured debt, which matured in June. Versa began acquiring BBH’s...
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