Caruso International, Inc.
Caruso International, Inc. (‘Caruso’) produces and markets electric steamsetter hair care products. Although a leader in its market segment, Caruso filed under Chapter 11 of the Bankruptcy code due to operating challenges.
SSG was retained by Caruso, at the recommendation of the Official Unsecured Creditor Committee, as its exclusive investment banker, in exploring its options to emerge from Chapter 11.
SSG orchestrated a sale of substantially all of Caruso’s tangible and intangible assets to a publicly-traded strategic buyer, Helen of Troy L.P. (NASDAQ: HELE), under Section 363 of the United States Bankruptcy Code. The secured creditors were paid in full and the trade creditors received a significant realization on their unsecured claims. SSG received over 50 bids during the formal auction process.