Exclusive Restructuring Advisor
Xicato
About the Company
Xicato designed and manufactured LED technology enabling architects, designers, facilities managers, and building owners to create beautiful, connected, smart spaces.
Exclusive Restructuring Advisor
Situation
Due to increasing competition the Company’s revenue had plummeted leading up to 2022, resulting in a compromised liquidity position. An M&A process undertaken had ended with no bids. The board decided the best path would be to wind the Company down and seek recovery for the secured creditor through the sale of assets. However, they recognized the need to resolve several complicating factors including 3 international subsidiaries.
Engagement
The Company engaged G2 to serve as chief restructuring officer (“CRO”) to manage the range of complex live issues and otherwise effectuate the corporate wind down. With broad authority to act in the interest of creditors, the CRO would be responsible for monetizing assets and bringing open situations to conclusion.
Outcome
As CRO, G2 launched an effort to sell the IP, ultimately finding a buyer. The CRO also liquidated inventory and collected on a significant portion of the accounts receivable. Contracting with professionals on three continents, G2 brought about the proper closure of Xicato’s non-U.S. subsidiaries.
Contact
Let’s talk about how we can help your business.
Whether you are experiencing strong growth or periods of distress, our team is exceptionally prepared to support your strategic objectives with bespoke solutions. There is no one size fits all approach.