October 24, 2016 11:12 PM ET


Company Overview of H. Krevit & Company, Inc.

Company Overview

H. Krevit & Company, Inc. manufactures and distributes water treatment chemicals. Its products include aluminum sulfate, calcium chloride flake, calcium chloride liquid, caustic soda beads, celite 545 and hyflo, hydrated lime, hydrochloric acid, nitric acid, potassium hydroxide, potassium hydroxide flake, problend ART (acid replacement), lite and dense soda ash, sodium bicarbonate, sodium bisulfate, sodium hydroxide, sodium hypochlorite, and sulfuric acid. The company also distributes storage tanks, fittings, and level alarms. It serves metal finishing, swimming pool, and water treatment industries in the Northeast. The company was founded in 1919 and is based in New Haven, Connecticut.

67 Welton Street

P.O. Box 9433

New Haven, CT 06534-0433

United States

Founded in 1919





Key Executives for H. Krevit & Company, Inc.

H. Krevit & Company, Inc. does not have any Key Executives recorded.

H. Krevit & Company, Inc. Key Developments

Motion for Asset Sale Approved for H. Krevit & Company, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of H. Krevit and Company, Inc. on March 4, 2016. The debtor has been authorized to sell substantially all its assets to AJM Industries, LLC, the stalking horse bidder for a purchase price of $19.03 million. The purchase consideration include a credit against buyer's secured claim of $2.25 million, a credit against buyer's secured claim of $11.44 million against GreenChlor, Inc., a credit against buyer's secured claim of $0.42 million against HKC Trucking, LLC, a credit against buyer's secured claim of $0.89 million against GCTR Realty, LLC, buyer will provide amount to satisfy the post-petition finance and a cash payment of $1.33 million to pay carve-out, payroll obligations, administrative claims and payment to unsecured creditors. The AJM Industries, LLC offer was the best and highest offer received by the debtor for its assets and therefore AJM Industries, LLC emerged as the winning bidder.

Final Order for Amended DIP Financing for H. Krevit & Company, Inc.

The US Bankruptcy Court gave a final order approving the amendments to DIP financing agreement for H. Krevit & Company, Inc. on February 29, 2016. As per the order, adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.26 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral and the DIP facility would now mature on March 25, 2016 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. There are no other changes in the DIP agreement.

Amended Asset Purchase Agreement Filed by H. Krevit & Company, Inc.

H. Krevit and Company, Inc. filed a notice in the US Bankruptcy Court for amended asset purchase agreement for the sale of substantially all its assets on February 26, 2016. As per the amended agreement dated February 24, 2016, the amount of buyer's secured claim has been changed from $2.25 million to $2.46 million and the amount of buyer's secured claim HKC Trucking, LLC has been changed from $0.42 million to $0.22 million against. The transaction is expected to close no later than March 24, 2016.

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