Case Studies
J.S. Held Acquires GLI Advisors, Strengthening Our Construction Project Support Services in the Western US and Hawaii
Read MoreThe Company was a $60 million international manufacturer of machines and machine tools based in Massachusetts. The Company’s primary focus was on the automotive, aviation, and power generation industries.
The Company had endured an operational decline resulting in continued losses over an 18-month+ period. As a result of the Company’s complex international operations, the Company and its lenders were uncertain of the extent of the immediate liquidity requirements of the Company. The Company was requesting a modest increase in its credit lines from its bank.
When our experts were engaged, it was immediately clear that the basis for the ‘near-term’ liquidity issue was a near-complete elimination of customers in two of its core markets, aviation and power generation. The Company had used historical revenue patterns to predict future revenue, yet its backlog had been nearly depleted. We immediately went to work with the Company’s management and the Board and collectively determined that a sale through bankruptcy was the only viable option. One of our associates was installed as interim CFO, and the Company filed for bankruptcy. Our team advised the Company through the 363 sale process, which resulted in several bids, significantly improving the recovery for the creditors of the Company.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
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