Representative Engagements
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Representative Engagement
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Investment Banking
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Manufacturing & Distribution
Alexin, LLC is an aluminum extrusion billet producer, which is developing a green-field, state-of-the-art aluminum billet casting facility to re-melt aluminum scrap to produce high quality aluminum billet used to support aluminum extrusion facilities in the Midwest. Alexin consummated an institutional private placement ($13.1 million), term loan ($15.0 million) and revolving credit facility ($15.0 million). NCA served as the exclusive financial advisor to Alexin.
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Representative Engagement
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Investment Banking
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Healthcare - Providers
The Atlanta Cardiology Group, PC (ACG) is one of the largest groups of cardiologists in Georgia and offers the full range of cardiovascular services. ACG was acquired by Piedmont Healthcare, Inc. Navigant Capital Advisors, LLC served as the exclusive financial advisor to ACG.
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Representative Engagement
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Restructuring
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Financial Services
Navigant Consulting, Inc./ NCA was appointed by the United States Bankruptcy Court for the Southern District of New York as Financial Advisor to the estate of the $450 million Bayou Funds, reporting to the Sole Managing Member of the Estate. Our professionals were responsible for assisting the Sole Managing Member in recreating the financial books and records of this failed fund, obtaining necessary hard-copy documentation, performing forensic analysis on historic fund assets, and tracing of investors’ contributions and redemptions. In addition, the team was responsible for developing the financial models used in valuing and determining the proper equitable reallocation of Estate assets to fund investors. The team regularly met with the Estate’s counsel, government representatives including the Federal Bureau of Investigation, and the fund’s creditors’ committee to assist the Sole Managing Member in the appropriate wind-down of the fund.
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Representative Engagement
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Restructuring
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Manufacturing & Distribution
BMK Inc. is a nationwide full-service distributor of general merchandise, serving 44 states and most major grocery and drug chains in the United States. On behalf of the senior lenders, our professionals evaluated various strategic alternatives and eventually acted as the senior lenders’ advisor, guiding the company through Chapter 11 bankruptcy and Section 363 sale process.
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Representative Engagement
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Restructuring
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Manufacturing & Distribution
Bocchi Holdings Corp. is a contract manufacturer for the personal care industry with divisions in California and New Jersey. Our professionals were engaged by the company’s senior secured lenders to evaluate capital restructuring alternatives. NCA structured and negotiated the successful consummation of an out-of-court reorganization simultaneous with the execution of a competitive sale process of the restructured debt in the secondary market. In connection with such out-of-court restructuring the Company’s creditors took ownership of the Company. NCA has overseen the continued operational improvement plan post-restructuring and has increased EBITDA from negative $5 million to in excess of $10 million on a run-rate basis in less than 18 months.
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Representative Engagement
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Restructuring
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Healthcare - Providers
Brotman Medical Center (“BMC”), in Culver City, CA is a $100 million revenue for-profit acute care hospital system that operates a total of 420 licensed beds which includes a psychiatric unit and detox unit. BMC experienced significant losses in 2006 and 2007 and was in technical default on its long-term debt. NCA was retained as financial advisor and asked to provide guidance to the Board and administration on the identification and implementation of turnaround opportunities, in addition to assessing and improving the finance department. NCA conducted an operational and financial assessment of the organization and included placement of the CRO and interim CFO positions with NCA personnel. The Hospital filed for bankruptcy in October 2007, with an NCA professional assuming the role of interim CEO during the initial stages of the bankruptcy proceedings. The management team, led by the interim CEO and CFO, successfully implemented financial and operational improvement initiatives that resulted in significant savings through productivity improvement and other cost initiatives. The hospital is expected to emerge from Chapter 11 early in the fourth quarter of 2008.
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Representative Engagement
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Investment Banking
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Restaurant
The Buckhead Beef Company is the nation’s leading distributor of value-added center-of-the-plate red meat products. Our professionals represented the stockholders of the Buckhead Beef Company in the exclusive sale of the Company to SYSCO Corp. (NYSE: SYY).
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Representative Engagement
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Investment Banking
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Financial Services - Insurance
Cartesian Capital Group, LLC formed Starr Global Accident & Health Insurance Agency, LLC in partnership with C.V. Starr & Co., Inc. Cartesian is a principal investment firm specializing in acquiring minority stakes in its portfolio companies. C.V. Starr & Co., Inc., a holding company, provides insurance services. The company offers aviation, marine, casualty and property insurance coverage policies. It also provides claims handling and settlement, risk assessment and loss prevention services. In addition, the company holds investments in public and private equity, hedge funds, and alternative assets. Navigant Capital Advisors, LLC served as financial advisor to Cartesian Group.
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Representative Engagement
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Investment Banking
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Consumer Products & Specialty Retailing
Casabella manufactures and markets kitchen and bath cleaning tools and accessories. ZS Fund, LP is a private equity firm specializing in long term investments in middle market companies and typically invests in companies with operating profit between $4 million and $30 million. The firm seeks to invest in transactions that provide liquidity to business owners while enabling them to maintain significant ownership status and keep their company independent. It prefers to invest in privately held or closely held publicly traded companies. NCA served as financial advisor to Casabella in its leveraged recapitalization.
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Representative Engagement
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Restructuring
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Healthcare - Providers
Catskill Regional Medical Center (“CRMC”), in Harris, NY, is a $100 million revenue voluntary not-for-profit acute care community hospital system that operates a total of 199 licensed acute care beds and 64 residential healthcare beds. CRMC experienced significant losses in 2006, and discretionary cash on hand had dropped to less than 10 days. NCA was retained in anticipation of CRMC entering into a technical default on its long-term debt (secured by DASNY) and was asked to provide guidance to the Board and administration on the identification and implementation of turnaround opportunities. Our professionals conducted an operational and financial assessment of the organization and included placement of the CRO and interim COO positions with NCA personnel. The interim COO and CRO led financial and operational improvement initiatives that resulted in significant savings through productivity improvement and physician practice management, as well as identifying further revenue cycle opportunities. In addition, the COO developed accountability tools for the client. The CRO led talks to secure the return of a major physician group in an effort to bolster patient volumes and developed cash management tools and reporting mechanisms. The CRO was also instrumental in restructuring a major vendor agreement to avoid significant balloon payments in early 2007, as well as providing ongoing advice and guidance to the Board of Directors. NCA’s efforts allowed the hospital to avoid filing for protection under Chapter 11 of the U.S. Bankruptcy Code.
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Representative Engagement
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Restructuring
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Restaurant
Church’s Chicken is a 1,500 restaurant franchisor located in 28 U.S. states, Puerto Rico and nine other countries. Our professionals were retained to provide restructuring and financial advisory services in connection with the insolvency of one of Church’s largest franchisees. NCA assisted in developing and implementing a successful 363 bid by Church’s to purchase the franchisee’s assets for significantly less than originally anticipated by Church’s management.
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Representative Engagement
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Investment Banking
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Healthcare - Other
Coalition America, Inc. (“Coalition” or “CAI”), a market leader providing comprehensive solutions for managing healthcare costs, acquired National Preferred Provider Network (NPPN) from MedAvant Healthcare Solutions (NASDAQ: PILL) for approximately $23.5 million in cash. Navigant Capital Advisors, LLC (“NCA”) acted as exclusive financial advisor to Coalition in the transaction. The transaction included the sale of PlanVista Solutions, Inc., National Network Services, LLC, PlanVista Corporation, Medical Resource, LLC and National Provider Network, Inc., all of which are MedAvant subsidiaries that combine to comprise NPPN. CAI utilizes a suite of products and services including direct provider contracts, PPO networks and provider negotiations to achieve industry leading savings for its national client base of health insurance carriers, employers, Taft Hartley plans and third party administrators. The Atlanta-based healthcare savings company has saved its clients over $1.5 billion since inception.
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Securities offered through Navigant Capital Advisors, LLC. Member FINRA/SIPC.
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