Select Staffing, Inc. provides employment solutions to manufacturing, industrial, clerical, accounting, technical, and professional services companies. Select Staffing acquired Tandem Staffing Solutions, Inc., a leading provider of temporary staffing services to the light industrial and clerical sectors of the U.S. staffing industry. The combined entity will have annual sales of nearly $1.5 billion, and serve more than 10,000 customers in 35 states from over 300 offices. Navigant Capital Advisors, LLC served as the exclusive financial advisor to Select Staffing.
NCA was appointed by the United States Bankruptcy Court for the Northern District of Illinois as Financial Advisor to the estate of $1.5 billion Sentinel Management Group, Inc., reporting to the court‐appointed trustee. NCA assisted the trustee and outside counsel in the operation and management of the estate, identification and collection of all electronic and hard‐copy data, performing forensic analysis of historical trading, financing and customer account activity, tracing and identification of fund assets and development of accounting, solvency and other financial analyses in support of legal action brought by the trustee against third parties. In addition, our professionals participated in presentations of factual information and analyses to the Creditors Committees and regulators, including SEC, CFTC and NFA. Declarations were submitted in support of litigation and NCA served as testifying experts in current and contemplated litigation against third parties.
Souper Salad, Inc. is a privately held company that operates 91 restaurants in 12 states, including 40 locations in Texas. The company’s business platform is based on an “all you can eat” soup and salad concept. NCA was retained as the exclusive financial advisor to Souper Salad in the company’s bankruptcy filing. The company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code, with NCA professionals negotiating the terms of a consensual plan of reorganization with its creditors.
MedCath Corporation (Nasdaq: MDTH), a healthcare provider focused on high acuity services, predominantly the diagnosis and treatment of heart disease, sold its minority ownership in Southwest Arizona Heart and Vascular Center, LLC. Navigant Capital Advisors, retained by MedCath to provide advisory services relative to the assessment of MedCath's strategic alternatives, provided advisory services on the transaction.
NCA served as exclusive financial advisor to the Special Committee of State Mutual Insurance Company (“SMIC”), in connection with SMIC’s divestiture of a controlling equity interest in an insurance marketing services subsidiary. In addition to providing financial advisory services to the SMIC Special Committee, NCA rendered a fairness opinion to the board of SMIC in connection with the transaction.
Sumner Regional Health Systems (SRHS) is a four-hospital healthcare organization serving eleven counties in Tennessee. Due to excessive leverage from past bond issuances in 2007 and 2008 and recurring poor operating performance, NCA was retained as financial advisor in connection with exploring strategic alternatives. Our professionals also served as interim manager and drove over $18 million in year over year annualized EBIDA enhancements. As strategic alternative and asset disposition advisor, NCA positioned SRHS to maximize results in pursuit of strategic alternatives, initiating and leading a competitive marketing process resulting in numerous offers negotiated with a wide array of national and regionally-focused hospital companies. A transaction with LifePoint Hospitals valued at approximately $156 million was consummated pursuant to Section 363 under Chapter 11 of the U.S. Bankruptcy Code, resulting in complete recovery by secured and unsecured creditors.
Sunesys, LLC is a leading provider of high-speed, dedicated fiber optic networks. With its extensive network of fiber optic facilities, Sunesys can service academic institutions (K-12 and higher education), business enterprises, government, hospitals and telecommunications carriers. Sunesys acquired DES Communications, Inc.. Navigant Capital Advisors, LLC served as financial advisor to Sunesys, a division of InfraSource Services, Inc.
Taylor Bean & Whitaker Mortgage Corporation is the nation's 12th largest home mortgage lender, headquartered in Ocala, FL. The Company serviced $80 billion of mortgage loans and originated approximately $40 billion of mortgage loans in the last 12 months. NCA was engaged to provide Chief Restructuring Officer and other support personnel in connection with Taylor Bean's Chapter 11 bankruptcy filing. Navigant professionals coordinated and directed the administration of the Company's Chapter 11 case, including assistance with respect to the preparation of bankruptcy schedules, statements of financial affairs and any plan of reorganization or liquidation relating to the Company.
Taylor Bean & Whitaker Mortgage Corporation is the nation's 12th largest home mortgage lender, headquartered in Ocala, FL. The Company serviced $80 billion of mortgage loans and originated approximately $40 billion of mortgage loans in the last 12 months. NCA was engaged to provide Chief Restructuring Officer and other support personnel in connection with Taylor Bean's Chapter 11 bankruptcy filing. Navigant professionals coordinated and directed the administration of the Company's Chapter 11 case, including assistance with respect to the preparation of bankruptcy schedules, statements of financial affairs and any plan of reorganization or liquidation relating to the Company.
MedCath Corporation (Nasdaq: MDTH), a healthcare provider focused on high acuity services, predominantly the diagnosis and treatment of heart disease, sold substantially all the assets of TexSan Heart Hospital, owned by MedCath and its physician investors, to Methodist Healthcare System of San Antonio. Navigant Capital Advisors, retained by MedCath to provide advisory services relative to the assessment of MedCath's strategic alternatives, provided advisory services on the transaction.
TLC Health Care Services, Inc. (“TLC”) is a provider of home nursing and hospice services with 92 home health and 11 hospice agencies located in 22 states and the District of Columbia. TLC’s licensed healthcare professionals provide a wide range of skilled nursing services including disease management, cardiac care, behavioral healthcare, and patient and family healthcare counseling. NCA was retained by TLC’s equity holders to assist in an ongoing financial and operating restructuring. Following NCA’s successful renegotiation of a consensual debt restructuring, NCA professionals oversaw an in-depth operating restructuring. The results of the operational improvement plan implemented by NCA resulted in a significant increase of the Company’s EBITDA from $24.0 million to $38.0 million over a 12-month period.
TLC Health Care Services, Inc. (“TLC”) is a provider of home nursing and hospice services with 92 home health and 11 hospice agencies located in 22 states and the District of Columbia. TLC’s licensed healthcare professionals provide a wide range of skilled nursing services including disease management, cardiac care, behavioral healthcare, and patient and family healthcare counseling. Amedisys, Inc. (NASDAQ:AMED), one of America’s leading home nursing companies acquired TLC Health Care Services, Inc. for $395.0 million in cash.
Navigant Capital Advisors, LLC (“NCA”) was originally engaged as TLC’s exclusive financial advisor to provide capital and operating restructuring. Subsequently, NCA was retained to provide sell-side advisory services and successfully structured, negotiated and closed this transaction.
