A small sampling of our manufacturing success:
Crisis managers/investment bankers to $20 million distressed
fabricator of precision engineered components.
Navigated firm through turbulent market conditions, post 9-11. Business experienced dramatic recovery to three consecutive years of strong profitability and cash flow while under the leadership and direction of IronHorse LLC. Successfully restructured $3.5 million in debt financing through workout negotiations with senior lender, and new placement of revolving factoring facility.Sold firm to strong industry strategic for a very competitive EBITDA multiple. Released all personal guarantees, freed up $4 million in pledged personal assets, and ensured long-term deferred lease-retirement stream to exiting ownership. Negotiated lucrative package of state & local incentives for the acquirer including lease subsidies, training grants, property tax abatements and income tax credits.
Financial advisory services to $300 million, publicly traded
manufacturer of food ingredients.
Assisted in the analysis of restructuring alternatives, including various
commodity and energy futures contracts.
Financial advisory and CFO services to $30 million plastics extruder of engineered parts components for OEM heavy-duty industrial equipment.
Assisted private equity sponsor group in refinancing $9 million revolving and term loan credit facilities, $11.5 million subordinated debt. Developed and implemented 13-week cash forecasting/management disciplines, coordinated all due diligence, facilitated completion of annual audit, directed activities of activity based management project.
Chief Restructuring Officer to $50 million manufacturer
and distributor of precision quality engineered components and accessories to the automotive after-market.
Complex reorganization, re-structuring. $30 million senior secured debt, $9.5 million unsecured debt. 10 senior secured lenders; $15 million with Agent, all else secured equipment and real estate loans. 400+ unsecured trade creditors. Numerous operating reporting entities and complex ownership structure. Highly complex real estate financing and ownership structure. No definitive inter-creditor agreement (s). $4 million over-advance with agent-revolving LOC provider. Cut over $3 million in payroll, facilities, and other costs. Discontinued several unprofitable business units, and simplified product offering. Partnered with national investment banking firm to facilitate distressed refi-recap process. Assisted in development of offering memorandum and circulation, solicitation of bids. Coordinated beauty contest, all private equity sponsor group due diligence requests. Helped secure four definitive LOI’s from qualified sponsor groups. Coordinated budgeting, planning, forecasting for Sec 363 sale within bankruptcy code. Transaction completed one month after filing for $24.5 million plus RE lease assumptions. 90% plus recovery to Agent; 75% to other secured lenders.
Liquation Agent for a manufacturer and distributor of men’s
casual pants and work apparel.
Over $8 million in secured debt. Two foreign manufacturing plants and one US based distribution facility. Created 13 week forecast to control cash management to assure proper utilization of funds. Coordinated the shutdown of the two foreign manufacturing plants. Worked with existing customer base to maximize value of liquidated inventory. Investigated and negotiated with liquidators regarding excess inventory. Controlled the debtors assets pledged as collateral. Assisted in the creation of a forbearance agreement.
CFO, M & A advisory and due diligence services to $50 million building materials division of LBO industrial conglomerate.
Assisted in $135 million leveraged recapitalization of parent after highly successful LBO five years prior. Coordinated all M & A activity including successful acquisition of primary regional competitor. Oversaw expansion into Euro zone. Facilitated due diligence and successful closing of sale of firm to Fortune 1000 industrial supplier to hardware, home center and contractor supply mass merchandisers.
Sample manufacturing clients:
Topeka Metal Specialties
MGP Ingredients Inc.
United Rotary Brush, Inc.
Weld Racing, Inc.
Goldblatt Tool Co.