Product Quest MFG
Situation
Product Quest, which made over-the-counter drugs and cosmetics, as well as some prescription drugs and animal health products, filed for bankruptcy and shuttered its operations.
Tiger’s Vision
Tiger Liquidity Services Biopharma Partners (TLSBP) marketed and sold all of the company’s assets, including inventory, machinery and equipment, and real estate in two states.
Also marketed and sold was a 16.4-acre lot in Kannapolis, N.C. Product Quest’s former manufacturing plant included about 150,000 square feet of usable area, with dedicated warehouse space and laboratories, as well as filling and kitting lines and batching suites.
Outcome
Tiger sold Product Quest’s North Carolina assets to Durham, N.C.-based Tergus Pharma for approximately $4 million. In addition, it sold former Product Quest real estate, warehouses and other assets in Daytona, Fla., to another buyer for $1.7 million.