Barjan brands, inventory sold to DAS Inc.


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Posted Online: Feb. 29, 2012, 8:58 pm
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By Lindsay Hocker, lhocker@qconline.com
Barjan LLC's brand names and related inventory were sold Wednesday to Pennsylvania-headquartered DAS Inc.

The sale was announced by both DAS and TSC Global, Barjan's parent company. The TSC news release said PNC Bank, Barjan's senior lender, completed the sale to DAS on Wednesday. Sold assets included the company's Astatic, Francis and Wilson brands.

"This sale assists Barjan, LLC, with its ongoing restructuring process," the release stated.

Attempts Wednesday to find out what the sale means to the Rock Island TSC Global facility, formerly known as Barjan, were unsuccessful. A contact on the news release from Charlotte, N.C.-based TSC Global did not respond to requests for comment. Neither did a contact on a DAS Inc. news release.

The sale of the names and assets is but the latest development in a complex series of transactions that began when Pfingsten Partners, then the owner of Rock Island-based Barjan, sold the company in 2006 to Monomoy Capital Partners, a New York-based private equity firm.

In 2010, Monomoy sold a controlling interest in Barjan to TSC Group, which rebranded itself as TSC Global in March 2011. Later that year, TSC Global began laying off employees, including 380 in Rock Island and 120 in North Carolina, according to an employee lawsuit filed this year.

In February, TSC and 10 of its affiliates filed Chapter 11 bankruptcy petitions in February. Barjan, LLC was not among those filing.

The release announcing the sale of the Barjan brands says Barjan believes the sale and the reduction of debt owed PNC Bank will facilitate PNC's continued support and funding for the company's restructuring process.

Barjan will continue to focus on Mistic, its e-cigarette, which the company believes will continue to grow and gain market share, according to the release.

"With support from its secured lenders and loyal customers, Barjan and TSC Global believe their reorganization efforts will be successful and benefit their creditors and customers," the release states.

In a news release, the Palmyra, Pa.-based DAS Inc. said the brands they bought "have served professional drivers and CB enthusiasts across North America with popular antennas, radio microphones, and CB accessories." DAS is "transitioning existing inventories, manufacturing equipment, and brand ownership to facilitate an effective transition for active customers," the release states.

DAS described itself as a privately held manufacturer, importer and distributor of automotive accessories, travel-related products and consumer electronics.

"Like our recent RoadKing acquisition, today we amplify our brand investments in our markets," DAS president/CEO Mike Abel said in the release.

The TSC Global release describes TSC Global and Barjan as leading companies in the sales, marketing and distribution of consumer brand products to America's top retailers, travel centers and convenience stores.

Founded in 1962 by Orion native "Buzz" Moore, Barjan distributed more than 8,000 products to truck stops and travel centers around the nation.






 












 



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  Today is Thursday, July 31, the 212th day of 2014. There are 153 days left in the year.

1864 -- 150 years ago: A corps of surgeons now occupies the new hospital quarters at the Garrison Hospital on the Rock Island Arsenal. A fence has been installed to enclose the prison hospital.
1889 -- 125 years ago: B. Winter has let a contract to Christ Schreiner for a two story brick building with a double store front on the south side of 3rd Avenue just west of 17th Street. The estimated cost was $4,500.
1914 -- 100 years ago: Germany sent simultaneous ultimatums to Russia and France, demanding that Russia suspend mobilization within 12 hours and demanding that France inform Germany within 18 hours. In the case of war between Germany and Russia, France would remain neutral.
1939 -- 75 years ago: Civil service offices at the post office and the Rock Island Arsenal were swamped as more than 700 youths sought 15 machinist apprenticeships at the Arsenal.
1964 -- 50 years ago: Last night, American Legion Post 246 in Moline figuratively handed over the trousers to a female ex-Marine and petticoat rule began. Olga Swanson, of Moline, was installed as the first woman commander of the post .
1989 -- 25 years ago: The Illinois Quad City Civic Center captured the excitement and interest of a convention of auditorium managers this weekend in Reno, Nev. Bill Adams, civic center authority chairman, said the 10,000-seat arena planned for downtown Moline has caught the eye of construction firms, suppliers, management teams and concession groups.








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