Out-of-Court Restructuring – Book Publisher

Situational Overview:  A text book publisher became over-leveraged following a number of acquisitions, and a balance sheet restructuring was needed.  The business itself was operating well; however, rumors about a potential bankruptcy were spreading within the industry and it was having a negative effect on new business.  Since many of the company’s customers were state [...]
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Complex Capital Raise – Contract Manufacturer

Situational Overview: A contract manufacturer experienced softness in its business and required additional capital to continue its operations.  The lenders would not lend additional funds to the company.  An opportunity developed where the company could issue public equity but needed to have the lenders reduce their loan amounts.  Moreover, the company would need a working [...]

Consequences of Inaction – Industrial Company

Situational Overview : An industrial company was beginning to experience declining sales and cash flow. The company consisted of three separate businesses, and these operations were never consolidated. As the company’s financial position worsened, it became evident the new owner could not provide critical financial analysis across the businesses to satisfy the needs of the [...]

Buy-Out + Refinancing Alternative – Services Company

Situational Overview : A service company needed additional time before it could successfully refinance a group of frustrated lenders. Over the past two years, the company had to seek numerous modifications to its credit agreement as it turned around its operations. Although the turnaround was successful and was beginning to be reflected in the financial [...]

Regaining Creditors Trust – Industrial Services

Situational Overview : A waste disposal business had financed a recent acquisition with debt; however, within three months of closing it was discovered that the target’s earnings were misrepresented to the buyer and consequently the company would end up violating the financial covenants of its loan agreement before the company made its first interest payment. [...]