SSG Client Transactions

Title

StorNet

Client Profile

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.

Situation

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.

Solution

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.

September 2002