Garden City, NY (PRWEB) April 19, 2007
Reorganization Alternatives Group, Ltd. recently announced that it has facilitated the sale one of the largest independent office products and office technology companies in the Northeast to Toshiba America Business Solutions Inc.
Mahwah, NJ-based Northern Business Systems LLC, and its Elizabethtown, PA-based affiliate, Engle Business Systems LLC, together operate a total of eight offices in New York, New Jersey and Pennsylvania.
Terms of the transaction, which closed last month, were not disclosed. The two businesses will continue to operate under their current managements.
"The sale to Toshiba was the result of working with management in assessing strategic alternatives, deciding upon a course of action and guiding the company on the execution of the sale strategy," said Roy S. Ryniker, President and founder of Reorganization Alternatives Group, Ltd.
The Reorganization Alternatives Group, Ltd. advised the seller on negotiating the price and terms and conditions of the sale and assisted the company during the due diligence process, and in negotiating the final sale and employment agreements for senior management.
Reorganization Alternatives Group, Ltd., based in Garden City, NY and established in 1989, provides mergers and acquisitions, investment banking and turnaround advisory services to small and medium-sized businesses throughout the New York metropolitan area. For more information about Reorganization Alternatives Group, call (516) 294-8311 or visit http://www.realtgroup.com.
Northern, based in Mahwah, NJ, and established in 1980, has offices in Floral Park, NY, Woodbridge, NJ, New York, NY and Newburgh, NY. Engle, founded in 1934, serves customers across Central Pennsylvania from stores in Elizabethtown, Hanover and Mechanicsburg.
Toshiba America Business Solutions is an independent operating company of Toshiba Corporation, the sixth largest electronics/electrical equipment company and the world's 72nd largest company in terms of sales. Ranked by Fortune magazine as the 9th Most Admired Electronics Company in the World, Toshiba Corporation is a world leader in high technology products with more than 300 major subsidiaries and affiliates worldwide. Fiscal year revenue in 2005 was approximately $54.5 billion.