CA - Steel Horse Automotive Accessories, Inc. announced
today that the company has completed the sale of its Nifty Products,
Inc. subsidiary to Lund International Holdings, Inc., for approximately
$7.3 million in cash. The U.S. Bankruptcy Court for the Central
District of California in Los Angeles approved the sale of Nifty
on November 14, 2002. .
is an important milestone in the restructuring of Steel Horse
under Chapter 11, said Mark Barbeau, interim chief executive officer
of Steel Horse Automotive. Nifty is a good fit for Lund, and I
am confident that Nifty will continue to thrive in the future.
Automotive and its affiliates filed voluntary petitions for reorganization
under Chapter 11 of the Bankruptcy Code on September 6, 2002,
in the U.S. Bankruptcy Court for the Central District of California
in Los Angeles. Murphy Noell Capital, LLC represented Steel Horse
Automotive in the Nifty sale transaction. Murphy Noell is a boutique
investment banking firm based in Westlake Village, California.