4RF assets sold to Israel’s Fortissimo for US$8M, enabling repayment of creditors

Mon, 03 Dec 2012

Dec. 3 (BusinessDesk) - Israeli private equity group Fortissimo Capital paid US$8 million for award-winning Wellington-based microwave radio products developer 4RF, allowing the receivers to repay creditors and settle with noteholders. The former parent company, 4RF Communications, was put in receivership in April after failing to reach agreement on restructuring some $5.5 million of convertible notes. To ensure the business, which had $20.4 million of sales in 2010, could continue trading, the operating assets were placed in a subsidiary com...

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