Case Studies

Interim Dairy Farm Management Gets Full Value Sale

J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida

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Home·Interim Dairy Farm Management Gets Full Value Sale

The Situation

$25 million large dairy farming operation. $20 million secured debt. Our experts acted as Receiver and Investment Banker. Quick sale process resulted in completed sale in just 114 days.

  • 6,200 herd cattle and dairy operations with 3,000 dairy cows.
  • Company under liquidation process.
  • Limited options to maximize value given time constraints of liquidation process.

How We Advised

  • Our experts were engaged as Receiver and began investment banking and operational improvements to maximize value.
  • Industry insight provided expertise to identify $2 million of annual cash flow improvements.
  • Structured three part sale and identified three groups of interested parties to maximize activity in auction process.
  • Three part sale structure provided floor for initial stalking horse bids.
  • Structure created avenue for going concern buyer to step in but also created requirement to overbid the piece meal bidders.
  • Final bid by going concern buyer was 20% higher than initial bids due to structure.
  • Cash paid to senior secured lender 114 days after implementation of sales plan.

Key Contact

Dan F. Dooley, CTP
Senior Managing Director
Strategic Advisory Practice
+1 603 660 8952
[email protected]

Related Practice Areas

> Receiverships
Federal and state courts, creditors, and legal counsel choose our team to serve as Receiver of distressed businesses and real estate entities. We stabilize operations and cash flow, safeguard business assets, and pursue methods to maximize financial recovery. Our multidisciplinary team applies a wide breadth of restructuring and industry experience as Receiver to take control of companies facing financial, operational, and legal issues.

 

> Chief Restructuring Officer (CRO) and Interim Management Services
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value.

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