Gordon Brothers, the global advisory, restructuring and investment firm, has completed the purchase of a substantial portion of Armstrong Flooring Inc.’s assets.
Gordon Brothers purchased a majority of the flooring products manufacturer’s existing inventory and partnered with Vion Investments to purchase the accounts receivable to effect the wind down of the business and operations that did not move forward. The firm acquired Armstrong Flooring’s real estate in Stillwater, Oklahoma. Gordon Brothers also acquired the machinery and equipment assets in the Stillwater and Jackson, Mississippi plants for resale through a live auction and series of online sales.
The purchase allowed for continued operation of three Armstrong Flooring facilities in Pennsylvania and one in Illinois under the new ownership of AHF Products, a leading North American hard surface flooring manufacturer, saving nearly 600 jobs.
Armstrong Flooring, Inc. is a global manufacturer of flooring products.
