July 15th, 2015
Field Solutions, a $20 million IT service business, executed an Assignment for Benefit of Creditors after selling its assets to Field Nation. As the assignee, GuideSource will serve as the Receiver for Field Solutions. The purchase agreement executed with the buyer of the business assets provides for a 5-year earnout based upon revenue. GuideSource will work with the buyer to review earnout calculations, perform the claims procedures, and disburse funds.