Stornet (‘Stornet’ or the ‘Company’), headquartered in Colorado, is one of the largest vendor-independent data-storage services companies in the United States. The Company focused on delivering intelligent, comprehensive services for today’s data-storage problems.
Faced with a substantial decrease in revenue due to the overall downturn in information technology investing, the Company engaged SSG to explore all strategic alternatives.
Due to the tight time constraints of completing a transaction, SSG negotiated a sale through Article 9 of the Uniform Commercial Code. Solunet Storage, Inc., an affiliate of Sun Capital Partners, Inc., was ultimately deemed the highest and best bidder.