Heritage Equity Partners (HEP), a premier M&A advisor to distressed organizations and special situations,announced it acted as investment banker and exclusive sell-side advisor to Opus Management Group and its related entities (Opus or Company) in the sale of assets to FTFRX, LLC (FTFRX) and EZ Rx Club, Inc. (EZ Rx).

HEP effectuated the sale through a Chapter 11 Section 363 process, which was approved by the Bankruptcy Court for the Southern District of Mississippi and closed on June 13.

Opus filed for Chapter 11 protection on February 2, 2016 in order to maintain operations while selling the Company. HEP completed the sales to FTFRX and EZ Rx in less than three months. HEP’s experience in identifying potential buyers allowed for an expedited sales process, thus enabling the Company to continue operating without interruption, while maintaining jobs for more than 25 employees.

“Heritage Equity Partners did a commendable job marketing these assets. Given the situation, I don’t believe anyone else could have achieved these results in such a short period of time,” said Jack West, vice president of operations for Opus Management Group.

Opus’ five affiliated pharmacies customize pharmaceuticals to deliver better outcomes and a higher quality of life by limiting side effects for patients.

“As part of a broad investigation of the compounding industry earlier this year by state and federal authorities, Opus experienced disruption in its daily business and negative publicity, making it impossible to continue operations in its current state,” said Matt LoCascio, managing director of Heritage Equity Partners. “Filing bankruptcy was the only option for the Company to maintain operations and keep employees intact throughout the sales process.”

HEP was able to obtain an initial stalking horse bid for a majority of the assets and, through a competitive bidding at an auction conducted on May 25, all but a few minor assets were sold to FTFRX and EX Rx. Four of the five pharmacies will continue operations under new ownership, and the majority of staff will remain employed.

Professionals who worked on the transaction include:

• Steve Rosenblatt, Chris Maddux and Thomas Hewitt of Butler Snow LLP – counsel for debtors
• Kristina M. Johnson, Jones Walker LLP – counsel for an individual asserting rights as an equity security holder and/or creditor of one or more of the affiliated debtors
• John Moore, John D. Moore, P.A. – counsel for buyer, FTFRX, LLC
• Chris Todd, Todd Law International – counsel for buyer, EZ Rx Club

Heritage Equity Partners provides boutique investment banking services for special situations. Recognized as the nation’s leader in maximizing value for distressed businesses and properties, Heritage Equity Partners uses a proven process that has provided solutions for over 450 clients throughout the United States since 1988, preserving more than 40,000 jobs.