Sun Capital's $36.6M Bid For Body Armor Co.'s Assets OK'd

Law360, Wilmington (October 28, 2011, 5:25 PM EDT) -- Body armor maker Point Blank Solutions Inc. received a Delaware bankruptcy judge’s blessing Friday to sell its assets for $36.6 million to an affiliate of Boca Raton, Fla.-based Sun Capital Partners Inc., which bested two other private equity firms in an auction.

A competitive auction on Thursday succeeded in driving up the purchase price, nearly doubling a $20 million stalking horse bid from The Gores Group LLC, Point Blank attorney Laura Davis Jones of Pachulski Stang Ziehl & Jones LLP said at the hearing. An affiliate...
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