Robertshaw Sold to Bain, One Rock, Eaton Vance and Canyon

A Texas bankruptcy judge approved the sale of appliance parts maker <-bsp-bb-link state="{"bbHref":"bbg://securities/1537907D%20US%20Equity","_id":"00000190-3c95-d497-a7fb-fc9dc5df0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Robertshaw to a group of lenders that includes <-bsp-bb-link state="{"bbHref":"bbg://securities/0755354D%20US%20Equity","_id":"00000190-3c95-d497-a7fb-fc9dc5df0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Bain Capital, <-bsp-bb-link state="{"bbHref":"bbg://securities/43409Z%20US%20Equity","_id":"00000190-3c95-d497-a7fb-fc9dc5df0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Eaton Vance Management, <-bsp-bb-link state="{"bbHref":"bbg://securities/830756Z%20US%20Equity","_id":"00000190-3c95-d497-a7fb-fc9dc5df0003","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Canyon Capital Advisors and private equity owner <-bsp-bb-link state="{"bbHref":"bbg://securities/0277677D%20US%20Equity","_id":"00000190-3c95-d497-a7fb-fc9dc5df0004","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">One Rock Capital Partners.

• Judge Christopher Lopez said Friday that he’d approve the sale which was in the form of a credit bid, meaning the lenders acquired Robertshaw in exchange for debt forgiveness
  • One Rock, which owned Robertshaw before Chapter 11 and owned company debt, will own about 12.5% of the business following the sale, according to court documents
• Lopez said he’d approve the sale a ...