H2-Brands receives $27.1 million stalking horse bid for assets

By Sarah Lizee

Olympia, Wash., March 7 – Nova Wildcat Shur-Line Holdings, Inc., doing business as H2-Brands, has received a $27.1 million stalking horse bid for its assets from Gordon Brothers Commercial & Industrial, LLC on behalf of its joint venture with Nations Capital, Inc., according to documents filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The company has filed a motion seeking approval of its selection, as well as approval of bid protections. The parties are proposing an $813,006 (3%) breakup fee, and an expense reimbursement of up to $275,000.

As previously reported, the company received court approval to choose a stalking horse bidder under its recently-approved bid procedures.

Competing bids are due by 5 p.m. ET on March 15, an auction will be held on March 20, a sale hearing will take place on March 24, and the deadline to close the sale is March 31.

H2 Brands is a Cranbury, N.J.-based home and hardware products company. It filed bankruptcy on Jan. 29 under Chapter 11 case number 23-10114.

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