Parties interested in purchasing the assets of Hartford should contact Mr. Michael Levy of Paragon Capital Partners by email (mlevy@ParagonCP.com) or phone at 212.894.0275 by direct fax (212.894.0255).

On December 12, 2011, Nexicore Services announced an agreement to sell substantially all of its assets to Avnet, Inc. (NYSE: AVT). In connection with the transaction, the company voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court in Chicago. The agreement with Avnet contemplates a Section 363 sale whereby Avnet’s bid would be subject to competing qualified bids.

The purchase price set forth in the agreement includes an upfront payment of $35.5 million (excluding cash at the company), plus the assumption of normal course operating liabilities, plus $19.5 million of potential earnouts based on 2012 and 2013 operating income. Full details are set forth in the Asset Purchase Agreement filed with the bankruptcy’s First Day Filings, which can be found at http://www.kccllc.net/Hartford. A hearing to approve bidding procedures is scheduled for January 26, 2012 in Chicago. Currently, the proposed deadline for submitting bids is 2/13/2012.