Based in Texas, Bosque Power Company was a privately held merchant power generator. Navigant Capital Advisors (NCA) professionals were engaged as restructuring advisors in connection with a comprehensive capital restructuring of $800 million of invested capital.
Advised the Company and its Equity Sponsors in a capital restructuring executed via a Chapter 11 Bankruptcy filing, coupled with a commitment of additional equity capital, providing a path to restore Company profitability. NCA identified value maximization strategies and performance improvement opportunities to drive the expansion of operating EBITDA and free-cash-flows. NCA's activities included:
• Review and execution of strategic, capital and operational restructuring alternatives
• Identification of key operating metrics and performance improvement drivers
• Development of right-sizing of cost structure
• Development of extended financial projections and market price forecast sensitivities
• Development of valuation and debt capacity analyses and sensitivities

Varel International manufactures drill bits for the global oil & gas drilling community, as well as for the blasthole mining, industrial, construction and water well drilling communities. NCA was engaged to conduct an initial review and assessment of the Company's operation, including: (i) assist in development of a 5-year financial forecast, (ii) develop capital restructuring strategies, and (iii) negotiate with senior and mezzanine lenders to amend the existing credit agreement to provide adequate headroom to the Company during the recovery period.

NEGT, a wholly owned subsidiary of PG&E Corporation, engaged in gas transmission, power generation and wholesale energy marketing and trading. Navigant Capital Advisors was retained as financial and restructuring advisor to the Committee of Unsecured Creditors during its Chapter 11 bankruptcy filing.

Con Edison Development, Inc. is an independent power producer that develops, builds and operates electric generation plants primarily in the Northeast and Mid-Atlantic. NCA was engaged for a valuation analysis in its financing of a New Hampshire Power Plant in a synthetic lease transaction.

InfraSource Services, Inc. (NYSE: IFS), a leading provider of infrastructure services for electric power, gas, and telecommunications intensive industries in the United States, was acquired by Quanta Services, Inc. (NYSE: PWR) in a $1.47 billion all-stock transaction. Through the acquisition of InfraSource, Quanta created one of the largest specialty contractors in the U.S., with more than $3.2 billion in revenue and a market capitalization in excess of $3.0 billion. With its enhanced resources, expanded geographic footprint and broader service portfolio, the combined company is well-positioned to profit from anticipated increases in spending on electric power, gas and telecommunications infrastructure.

Navigant Capital Advisors, LLC (“NCA”) acted as Co-Advisor to InfraSource in connection with its sale to Quanta. NCA had served as a trusted advisor to InfraSource over the past several years and had previously advised InfraSource on its divestiture of Electric Services, Inc. to Square D Company, a division of Schneider Electric (ENXTPA:SU). NCA had also worked with the Company’s Sunesys division to support the expansion of the division through acquisitions.

Mississippi Power is an investor-owned electric utility serving most of the cities, towns, and communities within the 23 counties of southeast Mississippi. NCA was engaged by Mississippi Power to perform a valuation of two power generating plants in a synthetic lease transaction.

Pasadena Tank Corporation (“PTC”) is a closely-held, family-owned business and a leading provider of engineering, fabrication and construction, and repair and maintenance services for aboveground storage tanks (AST). PTC provides these services for customers that produce, process, store and distribute petrochemical products throughout the world. PTC entered into a definitive agreement to merge with HMT Inc. a portfolio company of Berkshire Partners.

HMT provides a suite of products and services to the AST industry through product sales, inspection, repair and maintenance, fabrication, engineering and design, coating and lining. This transaction allows HMT to expand its new tank fabrication business while strengthening its repair and maintenance capabilities. The combination of HMT and PTC yields a well respected, full-service leading supplier to the petrochemical industry.

Navigant Capital Advisors, LLC was engaged as PTC‘s exclusive financial advisor and successfully structured, negotiated and closed this transaction.

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.

U.S. Energy Corporation, a Nasdaq OTC traded company, is a developer of natural resource deposits primarily in the western United States. U.S. Energy owned 70% of Crested Corporation, a joint venture partner in most of its investments. U.S. Energy sought to purchase the remaining shares it did not own and sought a fairness opinion governing the price the Company intended to pay. NCA rendered an initial fairness opinion in January 2007 and subsequently re-affirmed its opinion in October 2007.