Bolta US receives court approval to sell assets to SMP Automotive

By Sarah Lizee

Olympia, Wash., April 10 – Bolta US Ltd. received approval to sell its assets to one of its largest customers, SMP Automotive Systems Alabama Inc., according to an order filed Friday with the U.S. Bankruptcy Court for the Northern District of Alabama.

SMP acted as stalking horse bidder for the assets. The company didn’t receive any other qualified bids by the deadline.

The purchase price under the stalking horse agreement includes a base cash amount of $16 million.

The plastic automotive parts manufacturer is based in Northport, Ala. The company filed bankruptcy on Jan. 13 under Chapter 11 case number 23-70042.

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