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SSG Advises the Chapter 11 Trustee Sno Mountain Asset Sale

June 21, 2013, 07:40 AM
Filed Under: Bankruptcy

SSG Capital Advisors acted as the exclusive investment banker to the Chapter 11 Trustee of Snö Mountain LP ("Snö Mountain" or the "Resort") in the sale of substantially all of the Resort assets to Montage Mountain Resorts, LP ("Montage"). The sale was effectuated through a Section 363 process and was approved by the Bankruptcy Court and closed May 2013.
Snö Mountain is a leading resort area in Lackawanna County, PA. The Resort, doing business as Snö Mountain at Montage, provides a picturesque setting with numerous amenities and activities designed to showcase its location five miles from the center of Scranton, PA. With a 1,000 foot vertical drop, 30 ski trails, 7 lifts, a terrain park, tubing facility and 2 half pipes, Snö Mountain's ski resort is among the largest ski areas in the Pennsylvania's Pocono region and has areas for all skill levels. The Resort also has a water park with multiple attractions for the summer season.
The Trustee engaged SSG in February 2013 to sell the Resort's assets. SSG marketed Snö Mountain and all of its assets to a wide range of ski resort operators, real estate developers and various financial parties. Ultimately, the bid of Montage was negotiated and accepted by the Trustee and approved by the Court as the highest and best bid for the Resort's assets. SSG's experience in the ski industry and in an expedited sales process helped maximize value for all stakeholders.
Other professionals who worked on the transaction include:

  • Gary F. Seitz, Chapter 11 Trustee and Jennifer M. Zelvin of Rawle & Henderson LLP;
  • Aris J. Karalis, Camille Spinale, Dustin G. Kreider and Robert W. Seitzer of Maschmeyer Karalis PC, counsel to the Chapter 11 Trustee;
  • Charles N. Persing and Kyle Rems of Bederson & Company LLP, financial advisor to the Chapter 11 Trustee;
  • Peter S. Clark, II, Derek Baker and Lauren S. Zabel of Reed Smith LLP, counsel to the lender; and
  • Robert Lapowsky, Anthony S. DiSandro and Elliott J. Stein of Stevens & Lee, P.C., counsel to Montage Mountain Resorts, LP.

SSG professionals on this deal included:

  • J. Scott Victor, Managing Director
  • Terry Kohler, Director
  • Nicholas Coder, Associate
  • Andrew E. Finley, Analyst

SSG Capital Advisors is an independent boutique investment bank that assists middle-market companies and their stakeholders in completing special situation transactions.  We provide our clients with comprehensive advisory services in the areas of mergers and acquisitions, private placements, financial advisory, financial restructurings and valuations.  SSG has a proven track record of closing over 200 transactions in North America and Europe and are one of the national leaders in the industry.

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