FOR RELEASE: IMMEDIATE CONTACT: Michael Shepherd
February 12, 2026 michael@theshepherdgroup.com
(760)861-9596
Revitalization Partners Successfully Exits Cannabis Receivership
Restructuring Firm Preserves Assets, Jobs of Washington Grower/Processor
(SEATTLE, WA) – Ending a two-year-plus journey that included fending off a hostile takeover attempt and subsequently selling the business as a going concern, Revitalization Partners (RP) has filed a motion to formally close the receivership of Arlington, Washington-based cannabis company Alpha Genesis, LLC. The move follows a national sale of assets to buyer JSM LLC, along with post-transaction settlement closings. Financial terms of the six-figure deal were not disclosed.
Alpha Genesis launched in 2012, when it became an early mover in the nascent Washington State marijuana industry. The company was among the first cultivation and processing teams to participate in medical marijuana access points before going on to build a large and loyal customer base through independent retailers and online sales. Its product mix today includes nearly 700 offerings sold under several brands.
The company entered receivership in mid-2023, following a bitter dispute among operating partners and investors over the company’s strategic direction. Revitalization Partners, after being brought in as a court-appointed receiver to operate the company, ultimately obtained a legal judgement which resolved the dispute and laid the groundwork for the national sale of assets, which the firm organized and successfully executed.
RP Senior Director Kern Gillette, a Washington state-licensed cannabis receiver who led the effort, said, “In addition to maximizing the value of Alpha Genesis’ assets, the real win here was preserving the company and its jobs – one of the things we specialize in — throughout the duration of the case. The industry is a significant contributor to the economy in many smaller communities across western Washington.”
Statewide, Washington cannabis companies employ an estimated 5,800 workers. The figure comes from the most recently published industry data, as reported by national trade magazine MJ Business Daily.
-end-
About Revitalization Partners
Revitalization Partners specializes in improving the operational and financial results of small and mid-market companies nationwide and abroad. Whether the situation calls for
interim management, business valuation or assessment, revitalization, re-engineering or managing through the receivership/bankruptcy process, the firm focuses on finding the best resolution in the shortest amount of time – with the highest possible return.
