Case Studies
Amaranth Medical
Amaranth Medical – Onyx prefunded and advanced the budget for the sale of the IP and asset of a medical device company that designed and manufactured bioresorbable stents. The company was headquartered in Silicon Valley, California, with a Singapore based subsidiary.
Associated Aerospace Activities,Inc
Associated Aerospace – The process included an extensive pre-sale and fulfillment of existing government contracts, followed by a global online auction. The 45-day start-to-finish desired time-line was met, and the proceeds generated exceeded expectations.
DrinkWorks
DrinkWorks – Two Auction Event: DrinkWorks, was a joint venture between Keurig, Dr Pepper and Anheuser-Busch InBev, provided home bar systems designed to prepare a variety of cocktails using proprietary Pods. Onyx provided DrinkWorks with a financial minimum guaranteed recovery and conducted major but completely separate auction within weeks of each other.
Fairn & Swanson
Fairn & Swanson – Onyx, with a strategic JV partner acquired from a 363 Sale all assets of Fairn & Swanson, including $37 million wholesale cost inventory of wine & spirits. The U.S. Customs restriction of not being able to sell most of the inventory directly into the domestic market required alternative strategies with a focus on the international and duty-free markets.
Haus Beverage, Inc.
Onyx was engaged by the Assignee in a General Assignment for the Benefit of Creditors, as the exclusive sales agent in the going concern asset sale of Haus. Launched in 2019 Haus produced a line of modern aperitifs. The offering included the company’s intellectual property (formulations, trademarks, customer lists, website and brands), operating facilities & inventory located in Healdsburg, CA.
IMAX Worldwide Home
Onyx, with a strategic partner, executed an outright purchase of IMAX Worldiwde’s Inventory ($18+ million wholesale cost), Machinery & Equipment, Accounts Receivable, Intellectual Property and more, from the company’s Assignment for the Benefit of Creditors. Headquartered in Tulsa, Oklahoma, IMAX operated a 500,000 sq sf distribution center in Ontario, CA and showrooms in six different states. The company was a home accessory importer/wholesaler.
Intarcia - Hayward Lab Assets
Onyx was formally engaged as the sales agent for the sale of the analytical laboratory assets of a diabetes drug implant manufacturer, Intarcia Therapeutics (“Intarcia”). The company had raised nearly $1.75 billion in Venture Capital funding and, at their peak, received a post-money valuation of just over $4.1 billion. A two-day global online auction was held to facilitate the sale.
JRV Group USA
Onyx was retained as the exclusive sales agent in a Chapter 11 sale of 283 new modified / upfitted Jeep Wranglers, with an MSRP of approximately $16 million. Due to a NHTSA safety recall the vehicles could not be sold individually or to end users, necessitating a bulk sale offering to licensed dealers only. ONYX also conducted separate, auctions of the fabrication and automotive assembly equipment contained within the JRV facility & after market and custom parts inventory.
Modern Times Beer and Coffee
Onyx was the exclusive sales agent in the going concern sale of Modern Times Beer & Coffee, which IP (patents, trademarks and brands), two operating breweries capable of producing 60,000+ barrels annually, two restaurants, four taprooms, inventory, and misc. equipment.
Owens Precision, Inc.
Owens Precision, Inc. was a high-tolerance custom parts manufacturer serving Fortune 300 companies in the aerospace, defense and process control industries. Onyx provided the secured lender with a financial minimum guaranteed recovery for the high tolerance custom parts manufacturer. The sale strategy included a negotiated sale format followed by a global, timed online auction for this complete 50,000 plus sq. ft. facility closure located in Carson City, NV.
Plethora
Plethora was a leader in on-demand manufacturing of quality custom prototypes and end-production parts used in the defense and aerospace, medical devices, robotics, and automotive industries. Onyx, with two strategic partners, executed an out-right purchase of all machinery & equipment and inventory of Plethora Corporation in conjunction with the company’s Assignment for the Benefit of Creditors. The sale was a complete closure of its Marietta, GA facility and featured Late-Model Haas CNC Machining & Turning Centers.
Three Twins Organic Ice Cream
Three Twins Organic Ice Cream was a popular brand with national recognition and growing exposure in the Asian market. The company was shuttered as a result of the COVID-19 pandemic.