Digitel Corporation (“Digitel”) sold its NeoNova Network Services, Inc. division (“NeoNova”) to Azure Capital Partners and Bridgescale Partners. Based in Raleigh, NC, NeoNova is the leading provider of wholesale internet services to U.S. rural telephone and cable service providers. NeoNova’s service offering includes internet, e-mail hosting, spam filtering, virus filtering, parental controls, website hosting, online data storage, troubleshooting system monitoring, maintenance, customer care and billing services. NeoNova currently provides services to over 65 independent telephone companies with over 200,000 ISP subscribers. Digitel Corporation is a leading provider of communications systems for small and medium sized businesses. As a leading distributor for Nortel Networks and Cisco Systems, Digitel offers its clients a complete array of unified communication solutions including IP telephony, unified messaging, multimedia contact centers, VPN services, wireless communications and connectivity alternatives. Navigant Capital Advisor’s LLC was engaged as Digitel’s exclusive financial advisor to explore various capital and strategic alternatives including the sale of its NeoNova division.

HQ Global Workplaces is the leading provider of executive office space and associated services and was the largest franchisor of executive office suites in the world. NCA professionals represented the senior creditors through a protracted bankruptcy proceeding that resulted in a successful reorganization negotiated by NCA in which the pre-petition senior lenders equitized their debt to take control of the company. Specifically, NCA assessed HQ’s operating opportunities, including branch rationalizations and lease restructuring opportunities and worked in tandem with management to redesign the organizational structure into an entrepreneurial organization focused on P&L responsibility at the branch level. NCA drove management to (i) sell $20 million of non-core assets, (ii) reject 70+ unprofitable leases, (iii) restructure over 180 leases on substantially more favorable terms, all as the company focused on rationalizing its operations. Post-bankruptcy, an NCA professional served as Executive Chairman of the HQ Board and provided oversight of the continuing operating restructuring that resulted in dramatic EBITDA improvements (i.e., negative $25 million to positive $35 million run-rate). NCA also developed and implemented a restructuring of HQ’s broad franchise network in order to align the interests of HQ and its franchisees. In addition, Navigant Capital Advisors, LLC served as HQ’s exclusive financial advisor and negotiated the sale of HQ to Regus PLC in a transaction that resulted in full recoveries to the holders of pre-bankruptcy secured claims and significant recoveries for the holders of unsecured bankruptcy claims.

Protocol Communications, Inc. is a $180 million integrated direct marketing company serving businesses in the combined areas of direct marketing, data and production services, lead management solutions, contact centers, and media replication and fulfillment services with $18 million of EBITDA. NCA was engaged by the company’s holders of $115 million of senior secured notes to evaluate capital structure alternatives, various operational restructuring scenarios, and the Company’s short and long-term financial plans. NCA successfully negotiated with subordinated debt holder a debt to equity conversion. The Company emerged from bankruptcy with $85 million of Senior Debt, with the Senior Lenders owning 58% of the Company’s new equity.

ReView Video, LLC is a leading independent distributor of audio and video conferencing and web collaboration equipment. Navigant Capital Advisors, LLC acted as exclusive financial advisor to ReView Video and its shareholders, which included the control investor, Alpine Investors, LP, a leading San Francisco private equity firm, in the sale of 100% of its assets to the Westcon Group, Inc., a leading specialty distributor in networking, convergence, security and mobility equipment.

Sarcom, Inc. is a $240 million leading Midwest information technology services and solutions provider to business enterprises, primarily Fortune 1000 and 2000 firms, and government agencies throughout the U.S. The company provides its clients with IT consulting, implementation and operations services across the IT continuum. NCA initially served as financial advisor to senior secured lenders, leading a capital restructuring with a debt to equity conversion. Upon achieving control, NCA served as stakeholder representative overseeing the operating restructuring and ultimate exit transaction.

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.