Financial and Operating Restructurings
Today’s challenges require a team with deep capital markets experience and industry insights to identify and implement ideal capital solutions, as well as cost reductions and operating efficiencies.
Navigant Capital Advisors’ Restructuring professionals bring in-depth advisory expertise, from out-of-court restructurings and Chapter 11 asset sales to Chapter 11 reorganizations consummated through prepackaged or pre-negotiated plans of reorganization. We assist clients in negotiations with lenders, debt holders, creditors, Chapter 11 committees, and other stakeholders to build consensus for future success.
Financial and Operating Restructuring Services include:
- Overall turnaround plan development and implementation
- Liquidity, cash flow enhancement and working capital management
- Structuring, restructuring and negotiation of secured and unsecured debt facilities, securitized financings and other credit agreements
- Analysis and implementation of cost reductions and operating efficiencies
- Assistance with raising new capital, including debtor-in-possession financing or exit financing
- Financial advisory services and valuation analysis for collateral, cancellation of indebtedness income and general corporate purposes
- Creation, analysis, negotiation and confirmation of both consensual and contested plans of reorganization
- Expert testimony
- Calculation of lease and executory contract rejection analyses
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.
Limbach Facility Services, LLC is a $300 million provider of comprehensive construction services, including mechanical and electrical construction, pipe fitting, sheet metal fabrication, plumbing, HVAC service and maintenance, and engineering and mechanical construction management services. The Company, which operates in nine regional markets, is one of the largest mechanical contractors in the United States. NCA was retained as exclusive financial advisor to the Company in connection with its restructuring efforts, which resulted in the avoidance of a forced liquidation and successful recapitalization after marked operating improvement.
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.