Phoenix Capital Resources acted as the exclusive investment banker to Trans National Communications International, a Boston, MA-based provider of diversified telecommunications services primarily to small- and medium-sized businesses in the United States and internationally, and to the Unsecured Creditors’ Committee (the “UCC”) in connection with the sale of the Company’s assets to Blue Casa Telephone, LLC (“Blue Casa”) that was effectuated through a Chapter 11 §363 bankruptcy process. Blue Casa paid $21MM, including cash and the assumption of certain cure costs. The case was filed in the Eastern District of Massachusetts and was presided over by the Hon. William C. Hillman.

Phoenix was engaged by TNCI and the UCC to explore a potential sale of the company as an alternative to TNCI’s plan of reorganization. Blue Casa acted as the stalking horse bidder in the transaction. The transaction was led by the PCR team of Michael McCauley, Adam S. Cook and Donald J. Cunningham.

Donald J. Cunningham, associate at Phoenix Capital Resources, remarked as follows: “After receiving proposals and negotiating with interested parties, Blue Casa put their best foot forward by lining up financing and quickly obtaining consents and releases from several carriers. As a non-facilities-based reseller, carrier negotiations were critical to unlocking value in the company. This was a unique transaction in that we advised both the debtor and the committee, and all parties collaborated to get this over the finish line.”

Blue Casa, based in Santa Barbara, CA, provides home phone services for residential and business customers. It primarily offers local and long distance calling plans, and business telephone, Internet, and network services.

Harry B. Murphy and D. Ethan Jeffery of Murphy & King, P.C. served as counsel to the debtor, and Kenneth M. Misken and Joel L. Perrell Jr. of Miles & Stockbridge, P.C. served as counsel to the UCC. Blue Casa was represented by Jonathan B. Alter of Bingham McCutchen, LLP.

For over 25 years, Phoenix has provided smarter, operationally-focused solutions for middle market companies in transition. Phoenix Capital Resources provides seamless investment banking solutions, including M&A advisory, complex financial restructurings, and private placements.