Trucking |
An intra-state trucking company, whose revenue had peaked at $100 million a few years earlier with a fleet of over one thousand vehicles, was rapidly heading toward a Chapter 11 filing. The primary objective of the filing was to protect the assets of the owners which had been pledged to secure the company's debt.
Action & Results
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Patrick Farms Partnership |
A 5,000 acre grower/packer/shipper of greens and other produce crops. Engaged by the principals at a time when accounts were overdrawn on a regular basis and the principals were concerned about the farm's ability to continue its harvest. The farm suffered significant losses over the past several years and is highly leveraged.
Actions & Results
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Global Consumer Products |
A global manufacturer and marketer of branded consumer products had been overleveraged and management was anticipating a Chapter 11 bankruptcy filing because the company was unable to make principal and interest payments on its debt. A consortium of banks with a $250 million ABL facility in place was uncomfortable with the company's projections and concerned about the company's ability to survive as they considered providing DIP financing.
ACA Actions & Results
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Large Restaurant Franchisee |
The company was the largest franchisee within a nationally recognized quick service restaurant concept. A consortium of banks had provided the franchisee with over $100 million in term loan facilities and a revolving line of credit. The company was operating under a forbearance agreement that was close to expiration. The banks were seeking clarity regarding their available options.
ACA Actions & Results
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Chapter 11 Bankruptcy |
ACA's consultants have been involved in all aspects of the bankruptcy process including successful Chapter 11 reorganizations, 363 asset sales, orderly wind downs, and liquidations. This extensive involvement working on behalf of lenders and debtor companies, allows the firm to provide a wealth of critical insight along with substantial professional technical expertise in the Chapter 11 process.
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Agriculture |
The firm has developed a specialty practice providing consulting services to borrowers and lenders in the various aspects of the agriculture industry. Diedrich Von Soosten's expertise in this area was recognized by the Turnaround Management Association's (TMA) Atlanta Chapter in 2003 when his work with a client won Turnaround of the Year.
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Iconic Furniture Brand |
The operations of a 70 year old furniture brand had been merged with a supplier of standard casework furnishings for hotel and healthcare industries. The lack of compatibility in terms of manufacturing and marketing processes further exacerbated the liquidity issues the companies faced. The company's funding source was steadily changing reserve requirements and reducing availability under the company's asset based loan facility.
ACA Actions & Results
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Branded Snack Food Company |
A well established and nationally known brand of snacks foods -- whose customer lists included Kroger, Wal-Mart, and Dollar General among others -- was forced into Chapter 11 as a result of poor management oversight amid allegations of accounting irregularities. The company was forced to close it manufacturing plant and headquarters facility and terminate all employees without notice.
ACA Actions and Results
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Furniture Import and Wholesale |
The company was severely impacted by the bursting of the housing bubble and saw its annual revenues decrease by 40% in a relatively short time period. It began experiencing operating losses and the company's lender expressed concerns about renewing its credit line. The shareholders were looking for guidance in dealing with these issues and turned to outside professional for advice.
Action & Results
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Distribution |
Engaged by the company's secured lender to perform a situation analysis related to a borrower in the business of tools distribution to the construction industry. The borrower had been experiencing losses for several years and the lender was concerned with its collateral position. The lender was seeking advice regarding the optimal way to manage the relationship to avoid a potential loss.
Action & Results
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Balance Sheet Restructuring |
This privately held business with $20 million in annual revenue was experiencing significant losses almost immediately following an investment by a private equity firm that was made to fund expansion. The private equity fund was uncomfortable with providing additional capital that would stabilize the business because it did not control the voting stock in the company.
ACA Actions & Results
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Major Restaurant Supplier |
Interim CEO of a major supplier of printed paper products to the largest competitors in the Quick Service Restaurant (QSR) industry. Installed new accounting and cash management systems along with sales management programs. Re-established relationships with critical customers. Company was sold profitably by investors.
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Personal Services & Insurance |
Evaluated market position and strategy of a slow growth multi-location business with a substantial investment in a non-core, tangentially related business. As recommended, non-essential operation was sold to a strategic buyer to provide dividend to investors and capital for expansion of the core business.
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Entertainment Distribution |
Developed a database system for a home entertainment distribution company that was a supplier to a retailer with 8,000 locations in the U.S. System greatly improved coordination between the distributor, field merchandising teams and the retailer and provided timely inventory data and accurate shrink data for use by management.
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Multi-state Restaurant Company |
Stabilized the operations of a multi-state QSR company. Exited unprofitable markets and closed negative ebitda locations. Reduced G&A staff and relocated headquarters to smaller facility. Negotiated settlements and new terms with suppliers to conserve cash. Returned company to profitability following three consecutive years of losses.
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Restaurants |
Performed evaluation of management and assessed the viability of a multi-site restaurant company. Determined that management did not have skills required to grow concept and justify further cash infusions by the investors. Analysis and recommendations were accepted by investors.
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Multi-State Retail Business |
Revitalized operations of a 25 years old company by focusing resources on the growth of its retail division. Completed strategic acquisition that increased revenue and ebitda by 50%. Further enhanced performance with implementation of new cash controls, standard operational metrics and incentive programs.
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Entertainment Software Retail |
Led acquisition of a non-core business from a major media company. Due diligence uncovered that investor agreed to overpay by $10 million for the operation. As a result, the transaction was renegotiated to reflect an appropriate valuation. Investor ultimately exited with a very attractive return.
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