Troverco, Inc. Emerges from Bankruptcy with Confirmed Plan of Reorganization — Three Twenty-One Capital Partners
Three Twenty-One Capital Partners, LLC (3-21 Capital) announced its client, Troverco, Inc. has exit-ed bankruptcy with a confirmed Plan of Reorganization.
Troverco, Direct Store Delivery of Fresh & Frozen Food Items to Stores
COLUMBIA, Md. – May 21, 2018 – PRLog — Three Twenty-One Capital Partners, LLC (3-21 Capital) announced its client, Troverco, Inc. has exited bankruptcy with a confirmed Plan of Reorganization. Troverco filed for bankruptcy June 29th, 2017, as part of a coordinated, multi-pronged initiative to reorganize the business. Advised by Three Twenty-One Capital Partners and represented by Eric Peterson of Spencer Fane, LLP, Troverco emerges from bankruptcy as a trimmer, more focused company.
The reorganized Troverco will benefit from owner Joseph Trover’s recent re-entrance to the food manufacturing market with Triple Sticks Foods; a sandwich manufacturing operation based in Belleville, IL (www.triplesticks.com)
Founder and Managing Partner of Three Twenty-One Capital Partners, Ervin Terwilliger stated, “We wish Joseph Trover and the rest of the Troverco team the best of luck as they enter this exciting chapter.”
Troverco, headquartered in St. Louis, Missouri, is a private, multi-generational, regional Direct Store Delivery Company, servicing over 8,500 unique customers with over 100 weekly routes in 19 states, mostly located in the Midwest and Southeastern United States.
Troverco focuses on frozen and refrigerated food distribution. Customers include independent, regional chain and large chain convenience stores, military exchanges, gas stations, hospitals, golf courses, drug stores, schools, and prisons. www.troverco.com
Three Twenty-One Capital Partners, headquartered in the Baltimore-Washington Metro area, is the premier Private Investment Bank servicing the lower middle-market. Three Twenty-One Capital Partners’ team has completed engagements with over $15 billion in transaction value. Three Twenty-One Capital Partners specializes in family and founder-run businesses and “storied” situations. Further information is available at www.321capital.com.
