Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreThe Company was a privately held company that manufactured and marketed Non-Ferrous Metals and Chemicals to various industries in the United States and worldwide. At its high point, the Company grew to approximately $150M in revenue with more than 100 employees.
The Company’s single largest metal product was copper, which the Company manufactured into a number of different configurations. The price of copper was extremely volatile, and pressures from the world economy and the difficulty in fixing a price for copper made it difficult for the Company to compete with foreign copper manufacturers. The Company began searching for sources of capital to buttress their operations and pursue their business plan. However, the general economic downturn and the state of capital markets adversely affected the Company and impaired their ability to obtain necessary additional capital. The Company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.
Our experts were engaged by the Company at the request of its senior secured creditor to perform the following:
We worked with all levels of Company management and interacted with the controller at the manufacturing facility on a daily basis. Our team improved the Company’s inventory reporting to include daily updates, as it was such a large and fluid component of the collateral base. We also developed daily reporting packages and metrics that detailed each component of the Company’s collateral, as well as other deliverables, so that our team and the senior secured creditor had the most up-to-date information on the daily position of their collateral and also their position relative to the ‘stalking horse’ offer. As a result of our efforts, the sale transaction was completed with the senior secured creditor’s loan, interest, and fees all paid in full.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
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