AJ Evers

Division: Phoenix Management Services


AJ Evers was a privately held original equipment manufacturer with absentee ownership resident in Arizona. Counsel to the only surviving shareholder required an Interim CEO to take over the operation of the company until a sale could be consummated. Phoenix served in this capacity.


The previous CEO, the nephew of the shareholder, due to a variety of differences with the shareholder began to operate the business in an unsatisfactory manner that was not in the best interests of the Company or the Shareholder. The shareholder realized this and separated him from the company. Sales and margins were deteriorating and the physical facility was in total disarray and unmaintained.


Phoenix assumed the role of Chief Executive Officer and stabilized both operations and personnel. Phoenix located a stalking horse bidder in Madern Corp from the Netherlands and the company was sold under the provisions of the bankruptcy court 363 sale process and procedures. Equipment was sold at auction. Madern purchased the receivables and inventory and a small revolver with Bank of New York was paid off.