Case Studies
J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response
Read MoreThe Company was a third-generation $16 million HVAC, Roofing, and Electrical Contractor located in Delaware.
Absentee ownership combined with a management team that was not operationally-focused and poor financial controls resulted in the accumulation of substantial losses, the inability to identify which projects were bleeding cash, and haphazard collection efforts. The Company had recently embarked on larger-scale projects without the appropriate estimating or project management infrastructure in place. This resulted in significant increases in payroll and overtime, as well as operating losses. The Company extended its vendors, became delinquent on taxes, and eventually found itself in an over-advanced position with its asset-based lender.
Our experts concluded that it would be unable to obtain adequate financing to support a turnaround, and that a wind-down of the Company and a sale of its assets was in the best interest of its shareholders. We developed a liquidation plan, worked with management in its negotiations with its vendors and customers, and managed the orderly wind-down of the business outside of a bankruptcy proceeding. We were able to negotiate a settlement of the shareholder’s guarantee that preserved their primary residence, and the proceeds from the liquidation repaid the senior lender in full.
> Out-of-Court Wind-downs
We deliver strategic guidance through the wind-down of business operations or underperforming assets, helping preserve value and reputation while avoiding the disruption, cost, and public scrutiny of formal bankruptcy. Our expert financial and operational advisors apply decades of experience providing exit solutions across a wide range of industries and complexities to deliver, and often execute, comprehensive solutions for distressed businesses.
> Turnaround and Restructuring Services
Navigating the many challenges confronting a company in transition requires an operationally focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth. Drawing upon decades of experience in the turnaround space, we help companies in transition identify practical strategies to improve profitability and liquidity for immediate relief, while concurrently developing and executing a comprehensive turnaround plan for long-term, sustainable value creation.
