Brinkmann / Q-Beam
Hilco Streambank’s Role
Outdoor Direct Corporation, which was operating as a chapter 11 debtor in the Delaware bankruptcy court, retained Hilco Streambank to market and sell its Brinkmann and Q-Beam intellectual property assets, including trademarks for the various product lines, related domain names, patents for many of the products, and some physical assets.
Since 1974, the Brinkmann brand has stood for high-quality gas and charcoal barbeque grills, smokers, and accessories at moderate price points. In fiscal year 2015, Brinkmann brands generated wholesale revenue of approximately $235M and was offered at large scale retail companies such as Home Depot, Walmart, Tractor Supply, and Kroger. Additionally, Q-Beam was a leading producer of high intensity portable lighting equipment, most notably handheld lighting solutions used by outdoor enthusiasts and for recreation.
Hilco Streambank Closed the Deal
Hilco Streambank marketed the assets of Brinkmann and Q-Beam together, but also offered them as separate portfolios of assets to provide flexibility to interested parties. Hilco Streambank helped the company sign Baxter Brinkmann, the original founder and namesake of the company, as the stalking horse bidder at $350,000. Ultimately, we worked with the company and its other advisors to achieve ten bids to acquire some or all of the assets prior to commencement of the auction. After several rounds of robust bidding at the auction, the company designated the stalking horse bidder as the successful bidder for the Brinkmann intellectual property assets at a purchase price of $2.5 million, and, Viatek Consumer Products Group, Inc. as the successful bidder for the Q-Beam intellectual property assets at a purchase price of at $400,000.