Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreThe Company acquires and manages operating entities with recurring revenue streams that offer pension plan administration (“TPA”), Financial and Investment Advisory Services (“Investment”), and insurance products (“Insurance”) to small and medium-sized businesses in the United States and to high-net worth individuals. The Company was formed in March 2005 through a reverse acquisition with the strategy of consolidating these businesses to take advantage of cross-selling opportunities, economies of scale, efficiencies, and consolidation of overhead. As of June 30, 2007, the Company owned 12 TPA operating units, 4 Investment operating units, and 1 Insurance operating unit across 10 states.
Since its inception in 2005, the Company has experienced significant growth as it executes a strategy of growth through acquisition. During that time, the Company’s existing capital structure had become too costly and cumbersome as it looked to increase its target company acquisitions. Our experts were brought in by the secured Creditor to assist in the financial due diligence of the Company in order to restructure the debt through the syndicated lending marketplace.
We were tasked with reviewing the Company’s trailing twelve-month historical operating performance for each of the 17 operating entities and identifying any inconsistencies with internally generated reports as a means of validating EBITDA. Furthermore, our team served as an independent reviewer of the Company’s cash management structure and billing practices.
Our experts prepared a written financial report that opined on the validity of the Company’s historical financial results, as well as outlined the operating risks and mitigants inherent in the Company’s growth strategy. This report was utilized by the participating senior secured creditors interested in financing the Company's recapitalization to enable future growth.
Joe Nappi, CTP
Senior Managing Director
Strategic Advisory Practice
+1 617 600 3602
[email protected]
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