Livingstone is pleased to announce the sale of substantially all assets of Danimer Scientific, Inc. (“Danimer”), a leading manufacturer of biodegradable and compostable bioplastics, to Teknor Apex, a global materials science company, pursuant to Section 363 of the U.S. Bankruptcy Code. Livingstone served as exclusive investment banker to Danimer in its Chapter 11 proceedings.
Headquartered in Bainbridge, Georgia, Danimer is a pioneer in the production of polyhydroxyalkanoate (PHA) materials — renewable, marine-degradable alternatives to traditional petroleum-based plastics — with applications across food service, packaging, and industrial sectors.
In March 2025, Danimer filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware, seeking to restructure its balance sheet and transition its operations to a more sustainable cost base. At filing, Danimer faced liquidity pressures and project execution delays but retained significant strategic value through its IP portfolio, customer partnerships, and manufacturing facilities.
Livingstone was engaged at the time of the Chapter 11 filing to lead an expedited sale process. The team quickly mobilized and engaged a targeted group of investors within a compressed timeline. The post-petition marketing process led to Teknor Apex entering into a stalking horse purchase agreement and ultimately emerging as the successful acquirer.
“We are proud to have delivered a value-maximizing outcome that preserves Danimer’s manufacturing platform, IP, and mission under the stewardship of a long-term strategic owner,” said Adam Green, Managing Director at Livingstone.
This engagement builds on Livingstone’s extensive experience advising industrial companies through special situations, including 363 sales, distressed M&A, and complex carve-outs.
Danimer Scientific was advised by Livingstone Partners LLC as Investment Banker, Vinson & Elkins LLP as Legal Counsel, and AlixPartners, LLP as Financial Advisor.
