May 25, 2018 3:31 AM ET

Construction and Engineering

Company Overview of Ventech Engineers International LLC

Company Overview

Ventech Engineers International LLC provides plant relocations and modular refinery installation services in Europe, Africa, South America, and Asia. The company is based in Pasadena, Texas. Ventech Engineers International LLC operates as a subsidiary of Ventech Engineers, Inc. On May 26, 2017, Ventech Engineers International LLC filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy court for the Southern District of Texas. It is in joint administration with Ventech Engineers L.P.

1149 Ellsworth Drive

Pasadena, TX 77506

United States

Phone:

713-477-0201

Fax:

713-477-2420

Key Executives for Ventech Engineers International LLC

President
Age: 79
Compensation as of Fiscal Year 2017.

Ventech Engineers International LLC Key Developments

Motion for Asset Sale Approved for Ventech Engineers L.P.

The US Bankruptcy Court gave an order approving the sale of certain assets on December 5, 2017. The debtor’s assets include three work trucks. Worstell Auction Co. will act as an auctioneer for the sale of assets and shall be paid a compensation of 10% of the ultimate sales price of the vehicles by the debtor. Additionally, Worstell Auction Co. shall also charge a 12% buyer’s premium.

Motion for Asset Sale Approved for Ventech Engineers L.P.

The US Bankruptcy Court gave an order approving the sale of the certain assets of Ventech Engineers L.P. on November 29, 2017. The debtor has been authorized to sell its certain assets to Universal Plant Services, Inc. for a purchase price of $0.31 million in cash pursuant to the asset purchase agreement dated November 27, 2017. UPS Turbine Services, LLC, is appointed as advisor to the buyer. The debtor’s assets include Intellectual Property, Name Rights, Contract Rights, Computer Equipment's and Furniture. Under the terms of the asset purchase agreement, the buyer has made an earnest money deposit of $15,500 upon the execution of the agreement. The buyer would be entitled to a break-up fee of $10,000.

Amended Sale Procedure Approved for Ventech Engineers L.P.

The US Bankruptcy Court gave an order approving the amended sale procedures on November 9, 2017. As per the amendment the current sale process will not include Real Property located at 100 Pasadena Blvd, Pasadena, TX 77506. All bids that include the Intellectual Property must have a minimum purchase of $155,000.00 for the Intellectual Property.

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Recent Private Companies Transactions

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