Katerra names stalking horse BMC as winning bidder for Apollo assets

By Sarah Lizee

Olympia, Wash., Aug. 19 – Katerra, Inc. named stalking horse bidder BMC Corporate Services, LLC the winning bidder for its Apollo software assets, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company said it did not receive any other qualified bids by the deadline. An auction previously scheduled for Aug. 20 has been canceled. A sale hearing is scheduled for Aug. 24.

Builders FirstSource, Inc. is the guarantor under the stalking horse agreement, as previously reported.

The purchase price includes $4.5 million plus the assumption of liabilities.

The stalking horse agreement includes a breakup fee and an expense reimbursement, collectively up to 3% of the purchase price.

Katerra is a technology-enabled construction company based in Menlo Park, Calif. The company filed bankruptcy on June 6 under Chapter 11 case number 21-31861.

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