Blue Raven Technology, Inc. announced today that it has entered into an agreement to sell substantially all the assets of Blue Raven Technology, Inc. to Leading Ridge Capital Partners, LLC. Blue Raven Technology is one of the leading providers of repair services in North America for consumer and commercial electronics products, including computers, tablets, projectors and embedded systems. Blue Raven Technology provides its customers with a full suite of Reverse Logistics Services.
Leading Ridge Capital Partners is a private investment firm specializing in positioning logistics and distribution companies nationwide for long term growth. The assets acquired from Blue Raven Technology will be deployed within a holding company focusing specifically on providing reverse logistic services. Blue Raven's management and employees will be offered positions within the new company.
In connection with the transaction, Blue Raven Technology voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court in Massachusetts today and will seek Bankruptcy Court approval of the asset sale to Leading Ridge Capital Partners under Section 363 of the U.S. Bankruptcy Code.
"The company made the voluntary bankruptcy filing in order to facilitate a restructuring of debt and relieve cash flow pressures," says Glen A. Kashgegian, President, Blue Raven Technology. "We anticipate emerging from this process quickly as a stronger, better capitalized and more competitive organization. It is important to emphasize that Blue Raven Technology's customers and operations will not be adversely affected by the bankruptcy process. We believe a transaction with Leading Ridge Capital Partners will be highly strategic to both companies."
Blue Raven Technology is being advised by investment banking firm Business Capital Exchange, Inc and law firm Madoff and Khoury LLP.
About Blue Raven
Blue Raven Technology, Inc., is a leading provider of in and out-of-warranty service parts, depot repair services, and returns management for computers, tablets and projectors on an exclusive and non exclusive basis to electronic retail chains, schools, OEMs, and warranty companies. Blue Raven has more than 25 years experience in servicing electronics products down to the component level; including BGA and SMT repair of motherboards and LCD panel repairs to 60". For more information on Blue Raven, please visit http://www.blueraven.com.
Blue Raven and Blue Raven Technology are trademarks of Blue Raven Technology, Inc. All other products and services mentioned are products of their respective companies.
Read the full story at http://www.prweb.com/releases/2012/5/prweb9550084.htm
|03:48 PM||Virgin America Flies to Top of Consumer Reports' Latest Airline Ratings|
|03:42 PM||Advanced Discovery Welcomes New Vice President for Managed Review|
|03:39 PM||Clear Celebrates One Year of Transforming Travel for the Bay Area|
|03:38 PM||Hireology's Product Development Director Featured in National Federation of Independent Business Article|
|03:33 PM||Savannah, Georgia Attorney Todd Baiad Selected to Join National Claims and Litigation Management Alliance|
|03:33 PM||New Guide By James T Noble Examines How Discounting Can Damage Your Business|
|03:28 PM||Marlin Steel Wins Inner City 100 Award for Second Straight Year among Fastest Growing Inner City Companies in US|
|03:26 PM||MPI Foundation Ups the Odds for Making Smart Business Connections at WEC 2013|
|03:23 PM||Persephone Capital Partners, LLC (PCP) Acquires Global Relief Technologies, Inc. (GRT)|
|03:23 PM||NCCSI Completes NetBack Account Transition|
|03:18 PM||ICBA Releases Report on Why Too-Big-To-Fail Must End|
|03:09 PM||Online Solar Training Seminars Aimed at Informing Consumers|
|03:08 PM||Anelli Xavier's Managing Partner Thomas Anelli Discusses the National Transportation Safety Board's Proposed Reduction in Blood Alcohol Content to Charge DWI|
|03:07 PM||Mediaplanet San Francisco, in Collaboration with Cleantech Group and Industry Leaders, to Publish Campaign on Growing Interest in Clean Technology|
|03:07 PM||Icahn School of Medicine at Mount Sinai and Rensselaer Polytechnic Institute Announce Academic Collaboration|
|03:06 PM||NFL Legends Mike Haynes And Roy Green Host A Successful Event With Dr. Brad Eli And Pro Player Health Alliance At Scripps Memorial Hospital|
|03:06 PM||Cindy McCain to Be Honored by The Trevor Project at TrevorLIVE in New York on 6/17|
|03:06 PM||Garcinia Cambogia Reviews Released Online for Fast Weight Loss Solution with Offer of Extra 3 Month Supply|
|03:05 PM||VFM Leonardo Names Elana Palmer Vice President, Global Sales|
|03:03 PM||Tim Smucker and Danny Wegman Honored With GS1 Lifetime Achievement Awards|
|03:03 PM||Street Bocce an Early Success with Kickstarter|
|03:01 PM||Lonely Planet Launches Interactive Ebooks of its 'Best Trips' Series on Inkling|
|02:58 PM||National Aquarium Hires First-Ever Chief Conservation Officer|
|02:55 PM||A Star-Studded Celebration of Women at the 38th Annual Gracie Awards(R) Gala|
|02:48 PM||The Top 5 Smartphones for Real Estate Agents by Condo.com|
|02:46 PM||Donper America Unveils Soft Serve Machine for Non-Traditional Froyo Concepts|
|02:36 PM||Desire for Flawless and Light-Colored Skin Drives the Skin Lighteners Market, According to New Report by Global Industry Analysts, Inc.|
|02:35 PM||1 EDI Source Hosts Complimentary EDI 101 Training Webinar June 3|
|02:33 PM||Five CGS BlueCherry Customers Receive Top Innovator Award from Leading Fashion and Apparel Publication|
|02:33 PM||ORTEC Announces Expansion and Restructuring|
|More Press Releases From PRWeb|