TriEnda Holdings LLC, after winning an auction, is buying Lexington Logistics LLC for $13.6 million.
TriEnda won a "competitive going-concern auction with seven participants," according to a statement from its financial adviser, Livingstone Partners. Lexington Logistics was in receivership pursuant to Chapter 128 of the State of Wisconsin, a Wisconsin-only process that is similar to bankruptcy.
Portage, Wisc.-based Lexington Logistics makes reusable plastic pallets and shipping containers.
The buyer is majority owned by Kruger Family Holdings.
Other recent plastics deals include Precision Engineered Products LLC's purchase of Connecticut Plastics, and Jordan Co.'s acquisition of Transilwrap Co. Inc.
For more on struggling companies, see Mergers & Acquisitions Distressed Company Watch List.