Financial Restructuring

Unbiased advice regarding the full range alternatives available on such complex situation in toughest times

We have significant experience advising in “special situations” where a company is facing an inflection point due to liquidity challenges, debt maturities or covenant compliance issues which can result from company-specific issues or cyclical and/or secular changes. In these situations, it is often imperative that the company and its advisors respond quickly to preserve flexibility, maximize the range of alternatives available, and ultimately preserve value for the company’s constituents

Company
Advisory

Creditor
Advisory

Transitional
Management

Fairness
Opinion

Quality Of Earnings
Reviews

Valuation
Opinion

Solvency and Other Capital Adequacy Opinions

Company

Advisory

We engage a full team of senior professionals with special situations and industry expertise to offer objective, unbiased advice regarding the range of strategic and capital structure alternatives that may be available. We advise debtors, lenders and other creditors of middle market companies navigating through varying levels of financial distress and have extensive experience consummating transactions both out-of-court and through in-court proceedings.

Services provided include the following:

Evaluation of strategic alternatives

Capital structure assessment

Negotiating amendments (covenant relief, amend and extend, etc.)

Raising capital (rescue/bridge financing, DIP, mezzanine debt)

Distressed mergers & acquisitions

Bankruptcy sales

Providing valuation / expert testimony in bankruptcy proceedings

Creditor

Advisory

Creditors of distressed companies often need external support and counsel to resolve their issues. No matter what the situation or which parties are involved, you need a trusted, experienced partner that understands the situation. Our goal is to maximize creditor recoveries. We leverage our extensive expertise and decades of industry experience to provide critical analysis and viable strategic alternatives to deliver the optimal outcomes for our clients

We help you:

Plan for the “now” and the future: Assess short-term and long-term liquidity needs.

Determine if a company is generating sufficient cash flow to service their obligations: Evaluate operations and reasonableness of business plans.

Know what the company is worth: Determine enterprise value.

Understand what you can get: Analyze debt service capabilities and design appropriate capital structures.

Gain consensus to move forward: Negotiate restructurings by building consensus among creditors and negotiating with other stakeholders.

Trace and recover funds: Investigate intercompany transactions and potential fraud.

Take the lead: Lead and support strategic transaction processes, including asset sales and capital raises.

Understand the landscape: Align constituency expectations with economic realities.

Enforce creditor rights: We will put together and implement a strategy to enforce a creditor’s legal rights if necessary.

Prepare an Independent Expert Report: We can prepare Regulatory Independent Expert Reports for shareholders of companies in administration.

Transitional

Management

Interim Executive

Services

When your business needs to make changes at the executive committee or board level, we provide interim executives join your management team and help guide you through every step of the transition process, guaranteeing short- and long-term success. Whether you’re looking for a new CEO, CFO, COO, CIO, CTO, CMO or CRO, we help you execute the process from start to finish. Our seasoned executives have held senior leadership, financial management, operations and functional management roles throughout their careers. They bring a broad range of industry and geographic experience, assuring an understanding of your unique business, knowing how to transition, holding and backfilling a C-level role, and coaching and guiding the newly appointed executive to success.

Enterprise Management

Services

Businesses preparing for, executing and transitioning from acquisitions, divestitures, and changes of control depend on our interim management teams to successfully carry out these major shifts. Improve operations, enhance value and realize business potential. This is what you accomplish when we join your organization.

Carve-Out Management

Services

In carve-outs of businesses from larger enterprises, C-suite executives often need outside support. Our interim management executives help integrate the organizational changes, and then, during the transition period, serve in key leadership and financial roles of the new enterprise.

Finance Function Management

Services

When you need to make big changes to your finance function or office of the CFO, our financial executives serve as interim CFOs and in other key financial roles. We help upgrade internal and external reporting, tighten controls, improve decision support and enhance internal and external credibility

Management of Major

Initiatives and Projects

Growth companies have major initiatives and projects that need to be accomplished quickly, flawlessly, and under budget. Our interim management executives have helped top global organizations launch or relaunch lines of business, implement company-wide systems and solutions, conduct mission-critical negotiations, integrate acquisitions, drive significant cost realignment or performance improvement initiatives, implement new organizational designs, and exit lines of business.

Transitional

Management

Interim Executive

Services

Enterprise Management

Services

Carve-Out Management

Services

Finance Function Management

Services

Management of Major

Initiatives and Projects

Fairness

Opinion

We help boards of directors, companies, and business owners fulfill their fiduciary duties—by providing them with comprehensive analyses and unbiased opinions about the financial fairness of pending transactions.

We’ve been valuing companies and their underlying securities, in complex situations and in virtually every type of change-of-control transaction, including:

Affiliate and insider transactions

Related-party transactions

Synergistic mergers

Transactions involving competing offers

Down-round financings

Quality Of Earnings Reviews/Investment

Analysis For Investors

We know that some companies find creative ways to report earnings, or worse, fail to properly record losses or expenses when preparing financial statements. Our team of professionals asks the difficult questions to gain an understanding of the company’s accounting processes tests the strength of the balance sheet and quality of earnings

Valuation

Opinion

Our valuation professionals combine analytical tools with real-world transaction experience to objectively determine corporate worth. We help our clients determine their enterprise value in a variety of situations, including:

Mergers and acquisitions

Initial public offerings

Redemptions of shareholder interests

Determinations of tax liabilities

Assessments of collateral values

Reorganizations of family-owned businesses

Solvency and Other Capital Adequacy

Opinions

We provide solvency and capital adequacy opinions on behalf of boards of directors, lenders, equity sponsors, and investment banks. Our expertise in the areas of valuation, restructuring, and mergers and acquisitions provides a strong foundation for issuing solvency and other capital adequacy opinions, including surplus opinions and insolvency opinions. Our opinions provide an additional level of protection, mitigating our clients’ risk of fraudulent conveyance, particularly in the cases of:

Leveraged transactions
Stock redemptions
Dividend distributions

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