Point Blank’s $36.6 Million Sale to Sun Capital Approved

Point Blank Solutions Inc., a maker of body armor for the U.S. military and law enforcement, won court approval to sell almost all its assets to an affiliate of Sun Capital Partners Inc. for about $36.6 million.

U.S. Bankruptcy Judge Peter Walsh approved the sale to Point Blank Enterprises Inc. at a hearing today in Wilmington, Delaware. The final auction price was almost twice as much as the initial bid of about $20 million from an affiliate of Gores Group LLC.