NE Opco Inc., the largest closely held envelope-maker in North America, won court approval to sell virtually all of its assets to three separate buyers for a total of about $70 million, Bloomberg News reported yesterday. Bankruptcy Judge Christopher Sontchi granted the company, which does business as National Envelope, permission to sell its envelope business to Cenveo Inc. for about $33 million. Cenveo, based in Stamford, Conn., will pay $25 million in cash and $5 million in stock, according to Perry Mandarino, NE Opco’s financial adviser. Cenveo will also take over a portion of the bankruptcy financing.
