Bolta US closes sale of assets to SMP Automotive Systems Alabama

By Sarah Lizee

Olympia, Wash., April 18 – Bolta US Ltd. closed the sale of its assets to one of its largest customers, SMP Automotive Systems Alabama Inc., according to a notice filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Alabama.

SMP acted as stalking horse bidder for the assets. The company did not receive any other qualified bids by the deadline.

The purchase price under the stalking horse agreement included a base cash amount of $16 million.

The plastic automotive parts manufacturer is based in Northport, Ala. The company filed bankruptcy on Jan. 13 under Chapter 11 case number 23-70042.

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