2020

G2 Capital Advisors, LLC (“G2”), a leading full-service financial advisory firm, is pleased to announce that Christopher Capers has joined the firm as Managing Director within the Restructuring practice, with a focus on operational turnarounds. He will be located in the Southeast and reporting to Ben Wright, COO as he continues the growth & expansion of G2’s presence in the Southeast region. Christopher brings over 25 years of experience across executive leadership roles in corporate and entrepreneurial environments supporting healthy and stressed businesses. This appointment reflects G2’s continued investment in providing unparalleled operational capabilities to revitalize clients.
“Christopher’s extensive leadership experience enhances G2’s differentiated advisory approach, while also deepening our value creation proficiency in the industrials and manufacturing sector.” said Ben Wright, Chief Operating Officer of G2 Capital Advisors.
Christopher has specialized in operational restructuring and turnarounds through his comprehensive consulting and hands-on operational experience. Christopher has provided expert advisory guidance to companies requiring revitalization, including improving product profitability, reducing costs, managing pricing, building lean manufacturing, enhancing asset utilization, refining sourcing, and enhancing supply chains.
Before joining G2, Christopher was a senior Executive with Novolex Packaging, where he was Head of Operations Strategy and Continuous Improvement across a global manufacturing network. He championed operational excellence and lean manufacturing techniques to drive performance efficiency, establish manufacturing standards, and institute operational savings. In addition, he was responsible for warehouse distribution consolidation and M&A integration.
Prior to Novolex, Christopher served as a C-level Executive for multiple growth stage entrepreneurial ventures and a Director at AlixPartners Restructuring, leading value creation initiatives for private equity clients and various corporations in distressed or bankruptcy environments. Additionally, Christopher brings over a decade of experience in operational consulting with Booz Allen Hamilton.
“We are excited to welcome Christopher to the G2 team,” said Jeffrey Unger, Chairman & CEO of G2 Capital Advisors. “We continue to drive rapid growth across the G2 platform through this unique market environment. Christopher, as a Managing Director within Restructuring, will be a critical driver of our continued success as we enter 2021.”
Christopher holds a Master of Business Administration from Harvard Business School and a Bachelor of Science in Mechanical Engineering from the University of Pittsburgh.

CLIENT

Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), is a leading provider of construction, maintenance, project, and support services to the energy, power, and industrial end-markets.

SITUATION

Given its strong financial outlook and market opportunity, Williams raised approximately $80 million of total new debt commitments to refinance existing debt, lower interest expense, enhance liquidity, and fund growth opportunities.

ENGAGEMENT

G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to the Company, providing combined Capital Markets capabilities and industry expertise from its Industrials & Manufacturing (“I&M”) practice through a multi-stage engagement. G2’s I&M Financial Advisory team supported the Company’s finance and accounting workstreams through detailed working capital and valuation analyses while helping the Company in its strategic planning through financial forecast modeling. Leveraging this work, G2’s Capital Markets team ran a highly competitive process and identified financial partners who were able to provide Williams a flexible capital structure that expands with growth needs.

OUTCOME

The new facilities consist of a $30 million Revolving Credit Facility provided by PNC, a $35 million Senior Secured Term Loan Facility and a $15 million Delayed Draw Term Loan (together, the “Term Loan Facility”), provided by Energy Impact Partners (“EIP”, as Agent to the Term Loan Facility), CION Investment Corporation, and CrowdOut Capital.

Randy Lay, Chief Financial Officer, commented, “We are executing well on our strategic plan during a tumultuous year, expanding our core business while also growing and diversifying revenue through new customers and markets. We made significant progress in 2019 and 2020, evidenced by approximately $457.9 million in total backlog at September 30, 2020, with approximately $166.7 million of backlog expected to convert to revenue in the next 12 months. We hired G2 to construct a flexible capital structure solution with the necessary funding needed to deliver on our growing backlog and the diversification and growth objectives of our strategic plan. G2 was instrumental in driving competitive terms, and coordinating and facilitating the process with the lenders through the closing of the Transaction.”

“We are proud to have partnered with the Company through this important operational and financial inflection point. The Company’s new lenders are highly supportive of the business strategy and are providing the flexible capital and liquidity needed to drive future growth,” said Howard Lanser, Head of Capital Markets at G2.

Under the terms of the new facilities, the Revolver interest rate is LIBOR plus 2.25%, and the Term Loan Facility interest rate is LIBOR plus 9.00%, stepping down to LIBOR plus 8.50% when the Total Leverage ratio is lower than 2.50x. The minimum LIBOR floor on both facilities is 1.00%. In addition, the loan facilities mature in December 2025, extending the maturity by three years in comparison to existing facilities. Additional details regarding the transaction can be found in the Form 8-K filed by the Company with the SEC today.

About Williams

Williams Industrial Services Group has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company provides a broad range of construction, maintenance and modification, and support services to customers in energy and industrial end markets. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers. Additional information about Williams can be found on its website: www.wisgrp.com

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Howard Lanser, Managing Director, Head of Capital Markets
C: 312.961.7227 E: [email protected]

Victoria Arrigoni, Managing Director, Industrials & Manufacturing Practice Lead
C: 619.742.6441 E: [email protected]

Louise Roussel, Director, Capital Markets
C: 917.402.5618 E: [email protected]

Connor Grogan, Senior Associate
C: 860.707.5754 E: [email protected]

CLIENT:
Dupré Logistics LLC (“Dupré” or the “Company”) is leading provider of transportation and logistics services in markets such as energy, chemical and other specialty segments. The Company offers key services that include energy distribution services, dedicated truck transportation, site logistics and freight brokerage. Dupré, headquartered in Lafayette, Louisiana, operates approximately 750 trucks, employs more than 1,000 professional drivers and has an established network of 10,000 preferred carriers for its asset-light operation.

SITUATION:
Dupré established aggressive growth objectives which included doubling the size of the asset-light business. In order to accomplish these goals, the Company developed an acquisition strategy to identify talent and expertise in specialty markets that enhance its asset-light operation. Four specific criteria were used to evaluate acquisition opportunities: (a) ability to improve performance in the target; (b) acquire skills or technologies more quickly than building the capability internally; (c) exploit industry specific scalability; and (d) assist owners earlier in their cycle to develop their business.

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Dupré as the exclusive buy-side advisor to identify, source and engage with targets that provide specialty freight brokerage services and fit with the Company’s asset light acquisition profile.

OUTCOME
The transaction was successfully executed on October 30, 2020 through an acquisition of MRB Enterprise Inc., d/b/a TTS Logistics (“TTS”) by Dupré. The acquisition provided additional scale to Dupré’s temperature-controlled freight brokerage operation and was the Company’s entry into the produce market, a segment that was identified as a core strategic growth area.

“Over the last year, I have gotten to know the G2 team. They have helped to guide our team through our first acquisition under the existing management team. They were extremely knowledgeable and hardworking, providing introductions to interesting acquisition candidates. During the transaction execution process, G2 made sure both parties were focused on critical issues to achieve a successful close of the transaction. We are thrilled to work with our new partner in TTS and believe that our shared vision will result in continued growth and exceptional customer service for our valued customers,” said Mike Weindel, President of Dupré Logistics.

The team at TTS is a perfect cultural fit with Dupré Logistics family. Both companies have similar values and approaches to providing transportation services. Furthermore, TTS will benefit from the additional investment that Dupré will complete to accelerate growth while TTS unlocks a core strategic capability in a high growth market.

“Dupré should benefit from the significant tailwinds surrounding temperature-controlled freight brokerage as consumers buy more perishable food items, international trade grows, and modern retail outlets expand, all contributing to rapid growth in the sector. TTS was exactly what Dupré identified as a perfect acquisition candidate with unique capabilities”, said Christopher Casteleyn, G2’s Director in Transportation & Logistics. “It was an honor and privilege to work with Dupré’s management team and we have no doubt this will be a highly accretive acquisition.”

About Dupré Logistics
Dupré Logistics is a privately held, asset-based provider of transportation and logistics services that include energy and chemical transport, dedicated truck transportation, site logistics, and freight brokerage. We specialize in tanker, hazmat, and petrochemical transportation and complex supply chain solutions in industrial and consumer products.

About G2 Capital Advisors
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Chris Casteleyn: Director, T&L : T: 415.531.3138 E: [email protected]

Andrew Keleher: Vice President, T: 860.748.6480 E: [email protected]

Matt Ball: Associate: T: 978.914.4421 E: [email protected]

Ben Crawford: Research Analyst : T: 713.591.7301 E: [email protected]

As we enter the typical fall budgeting process, G2 has been assisting our clients in exploring new ways to approach 2021 forecasting given the uncertainty related to the COVID-19 pandemic and its impact on various industries over the near to medium term. Many operators and their finance teams are struggling to reliably forecast their businesses, making strategic planning more challenging and limiting stakeholders’ ability to assess the long-term prospects for their companies. Through our financial advisory and turnaround consulting engagements, G2 has been leveraging a number of key practices to enhance the productivity of 2021 budget building, helping companies and their management teams plan proactively manage the uncertainty:

• Consider New Methodologies
o Year-over-year variance modeling – When a business has seen temporary pandemic related demand disruptions, we’ve applied efficient top down discounts to 2019 actuals or 2020 original budgets to drive revenue assumptions for 2021. The top down discounts can be refreshed based on latest views on the depth and duration of the impact of the pandemic on a particular business or industry. By layering on updated cost structure assumptions based on management’s various initiatives, a full profitability picture can take shape. For indoor businesses, like restaurants or retailers, G2 has been similarly modeling the revenue impact of the pandemic through the winter months in colder geographies in the U.S.
o Bottoms up around the “New Normal” – For companies with significant and likely permanent changes to their operating realties, a bottoms up full budgeting process may be the preferred method. Benefits include revisiting detailed revenue assumptions, which can prompt creative approaches or calls to action to drive new revenue opportunities. Similarly, divisional level, line item by line item review of cost structures can yield material expense reduction opportunities or nimbler, potentially tech enabled operating models explored during the pandemic.
o Build multiple “cases” vs. one baseline budget – Clients that severe pandemic related revenue declines have typically taken a scenario modeling approach to budgeting, focusing more on potential states of the world and the associated impact on the business, rather than on presenting one budget, that with certainty will be wrong.
• Scenarios modeling is more valuable than ever
We value “sensitizing” forecasts based on key assumptions and drivers in order to stress test profitability and liquidity in times of significant uncertainty. By creating upside (vaccine in Q1) and downside cases (no vaccine), leadership teams arm themselves with key insights on the range of potential outcomes for both revenue and expense level recoveries. Furthermore, stress tests provide clients with insight into what breaks the business and how to proactively manage cost structures and liquidity (keeping dry powder for CAPEX or working capital investments) based on topline trends and other key indicators of business activity. Commodity costs can be a key driver of margins and warrant particular scrutiny in scenario models. Stress testing covenants and minimum available liquidity is critical in leveraging forecasts as a tool to provide transparency and peace of mind to lenders at this time. Consider also pulling forward the budgeting process timeline in order to get estimates of potential outcomes in 2021 earlier, allowing management to take more aggressive action sooner.
• Flexibility may be more valuable than granularity
In times of high uncertainty, building granular bottoms up forecasts require significant resources and provide limited value given the pace of change. The return on those resources can be enhanced by building flexible models that can be updated over the course of the year with actuals and refreshed on a rolling basis. A dynamic forecast is highly valuable in providing leadership with real time forward views and empowers nimbler responses on driving revenue opportunities and trade-offs on investment, especially in a recovery scenario where working capital requirements can be significant.
• Bridge Building
We recommend tracking the impact of COVID-19 on revenue, costs, and cash in order to bridge between 2020 actuals to a pro forma, adjusted view of the business. Analyzing 2021 forecasts and scenario cases through EBITDA or free cash flow bridges isolates key assumptions and plays a critical role in educating stakeholders on drivers of performance. For more challenged situations, sizing cash needs becomes a critical output of the 2021 budgeting process, whether funding operating losses or working capital. Solving for these liquidity needs in the form of a “cash bridge” has been a key focus across many G2 engagements with pandemic impacted companies.

G2’s highly capable team, including seasoned interim CFOs, Controllers, or FP&A resources, not only can help our clients navigate challenging liquidity or performance environments, but also can drive improvement in core finance/accounting functions. Feel free to reach out to the G2 team to learn more about the approaches we are using across our 45 plus clients in our industries of focus.

G2 Capital Advisors is pleased to present its Transportation & Logistics industry updates for Q3 2020, providing commentary and analysis on M&A and market trends within the sectors. We hope these reports find you and your families safe and healthy, and encourage you to contact us directly if you would like to discuss our perspective on the current market environment, trends, or our relevant industry experience.

G2 Capital Advisors is pleased to present its Technology & Business Services industry updates for Q3 2020, providing commentary and analysis on M&A and market trends within the sectors. We hope these reports find you and your families safe and healthy, and encourage you to contact us directly if you would like to discuss our perspective on the current market environment, trends, or our relevant industry experience.

G2 Capital Advisors is pleased to present its Industrials & Manufacturing industry updates for Q3 2020, providing commentary and analysis on M&A and market trends within the sectors. We hope these reports find you and your families safe and healthy, and encourage you to contact us directly if you would like to discuss our perspective on the current market environment, trends, or our relevant industry experience.

CLIENT

Directed, LLC (“Directed”), is a Vista, California-based producer of automotive aftermarket electronics. Directed, a world leader in automotive electronics, is the largest North American designer and marketer of consumer-branded vehicle security and remote start systems, and a pioneer in the connected car space. Its products connect more consumers to their vehicles than anyone else on the planet. Directed markets its broad portfolio (sold under Viper®, Clifford®, Python®, Autostart®, AstroStart®, Alcohol Detection Systems® and other brands) through leading national retailers and specialty chains.

SITUATION

In March, Directed experienced significant operational and cash flow challenges due to the impact of the global COVID-19 pandemic. It’s customers, who represent leading national automotive after-market retailers and specialty chains, experienced a significant decline in store traffic and related consumer spending, especially on account of actions taken in response to the public health crisis. Mandated store closures significantly contributed to missed sales targets and resulted in unsold inventory.

ENGAGEMENT

Faced with a liquidity crisis, Directed engaged G2 Capital Advisors, LLC (“G2”) as its restructuring advisor. Directed’s board of directors tapped G2 Managing Director Jeffrey T. Varsalone to serve as Directed’s Chief Restructuring Officer (“CRO”). Through the CRO, G2 developed and executed liquidity management tactics to maximize runway for a potential restructuring transaction and assessed strategic options for the Company and its stakeholders. With a focus on maximizing value for creditors and preserving jobs, G2 provided the board with restructuring expertise in negotiating a consensual resolution with the Company’s lender and facilitating a restructuring transaction that preserved the going concern. G2 teamed with Livingstone Partners, LLC, which ran an expedited sale process as the Company’s investment banker.

OUTCOMES

Implementing tight liquidity management measures, G2 assisted Directed in negotiating a series of forbearance agreements without creating additional exposure for the Company’s senior lender. As a result of the ability to avoid incremental risk to the senior lender, the Company had sufficient runway to consummate two asset sale transactions in July 2020 that preserved the value of the going concern. The first was the sale of Directed’s Remote Start & Security and Connected Car Solutions businesses to VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets. The second was the sale of Directed’s ignition interlock device business, Alcohol Detection Systems (“ADS”), to CST Holding Company (“CST”). CST is a portfolio company of private equity firm Welsh, Carson, Anderson & Stowe (“WCAS”) and also owns the nation’s largest ignition interlock brand, Intoxalock.

“Having assessed the limited potential recovery to stakeholders in a liquidation scenario, this was a particularly challenging situation,” said Jeffrey T. Varsalone, the Company’s Chief Restructuring Officer. “The uncertainty of being able to consummate a going concern sale transaction during the height of the Covid lockdown this spring created a dynamic where the runway had to be created without asking stakeholders to take on material additional risk. The board, the Company’s management and the Company’s professionals worked together tirelessly and cohesively to maximize value for all stakeholders. We are very proud to be part of the team that provided value to creditors, provided an ongoing customer to vendors, and saved over 100 jobs at a time when the annualized unemployment rate was at an all-time high”, Varsalone concluded.

Joseph Greenwood and Andrew Bozzelli from Livingstone led the investment banking effort in selling Directed. L. Katherine Good, Esq. and Michael W. Whittaker, Esq. of Potter Anderson & Corroon LLP served as legal counsel to Directed.

This transaction is part of several recent G2 transactions, including The Paper Store, LLC (CRO engagement culminating in Chapter 11 Section 363 Sale) and a regional casual dining restaurant chain (CRO engagement culminating in a sale transaction).

About Directed:
Headquartered in Southern California, Directed is the largest designer and marketer in North America of consumer-branded vehicle security and remote start systems (sold under Viper®, Clifford®, Python®, Autostart® and other brand names). Directed markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world.

About VOXX International:
VOXX International Corporation (NASDAQ: VOXX) has grown into a leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, with a portfolio of approximately 35 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world’s leading automotive manufacturers.

About Intoxalock:
Intoxalock, is the primary DBA of Consumer Safety Technology, LLC, is a leading provider of ignition interlock devices, which are breathalyzers installed in vehicles. Intoxalock is based in Des Moines, Iowa, United States. CST is a portfolio company of private equity firm Welsh, Carson, Anderson & Stowe.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

Securities offered through Hollister Associates, LLC, Member FINRA & SIPC.
G2 Capital Advisors, LLC and Hollister Associates, LLC are separate and unaffiliated entities. This does not constitute an offer to buy or sell securities.

CONTACTS ON THIS DEAL:

Jeffrey Varsalone, Managing Director, Restructuring: T: 516.410.0615
E: [email protected]

Konstantin A. Danilov: Vice President, Restructuring: T: 413.841.2717
E: [email protected]

Zach Talotta: Associate, Restructuring: T: 802.745.9291
E: [email protected]

CLIENT
A casual family-focused seafood restaurant chain with approximately 30 locations in the Southeast U.S. (the “Company”).

SITUATION

As sales came to a screeching halt in March 2020 due to the impacts of the global COVID-19 pandemic, our client faced a severe liquidity crisis losing approximately 95% of its sales. By the end of March, the Company was operating 11 of its stores on a take–out only basis and was in default of its senior secured debt. The Company was forecasting to run out of cash within 90 days with liquidation of the business imminent.

ENGAGEMENT

In connection with a forbearance agreement with its lenders, the board of directors of the Company retained G2 to provide expertise in quickly finding a solution that would save the business. Jeffrey T. Varsalone, a Managing Director at G2, was appointed Chief Restructuring Officer (“CRO”) and through the CRO, G2 assisted the board in actively navigating complex stakeholder dynamics during a time when market instability was at an all-time high due to the continued pandemic. G2 developed and executed liquidity management tactics to maximize runway for a potential restructuring transaction and assessed strategic options for the Company and its stakeholders. With a focus on maximizing value for creditors and preserving jobs, G2 provided the board with restructuring expertise in negotiating a consensual resolution with the Company’s lenders and facilitating a restructuring transaction that preserved the going concern.

OUTCOME

G2 implemented a tailored, expedited restructuring transaction process that resulted in the sale of the senior debt and the subsequent consummation of a credit bid going concern asset sale transaction in June 2020. “The lightning fast execution of this restructuring mandate maximized value for the Company’s lenders and provided recovery for junior creditors”, said Jeffrey T. Varsalone, the Company’s Chief Restructuring Officer. “The transaction provided an ongoing customer for trade vendors and an ongoing tenant for landlords at a time when retail vacancies are sky rocketing”, Varsalone continued. “Most importantly G2 takes great pride in being able to assist the board in saving over 500 jobs at a time when the annualized unemployment rate was at an all-time high”, Varsalone concluded.

About G2 Capital Advisors
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

Securities offered through Hollister Associates, LLC, Member FINRA & SIPC.
G2 Capital Advisors, LLC and Hollister Associates, LLC are separate and unaffiliated entities.

CONTACTS ON THIS DEAL:

Jeffrey Varsalone, Managing Director, Restructuring: T: 516.410.6215 E: [email protected]

Matt Powers: Associate, Restructuring: T: 940.395.3714
E: [email protected]

CLIENT
At its inception more than 55 years ago, the original vision of The Paper Store (“TPS” or the “Company”) was to serve as a local retailer offering newspapers, magazines, greeting cards and school supplies. Since then, The Paper Store has expanded beyond its original vision and has grown organically from a “mom-and-pop” shop to a regionally renowned specialty retailer. Today, The Paper Store is one of the leading specialty gift chains in the Northeast with 86 locations in 7 states.

SITUATION

TPS had experienced a significant decline in store traffic and related consumer spending, as well as numerous operational challenges as a result of the COVID-19 pandemic, especially on account of actions taken in response to the public health crisis. Mandated store closures significantly contributed to missed sales targets, unsold inventory, and depressed profit margins. The Company could no longer cover its pre-bankruptcy debt service and was facing an impending liquidity crisis given working capital requirements leading in to the holiday season. Prior to filing, TPS pursued several strategic alternatives to address the liquidity need and balance sheet challenges but was not able to reach consensus across the interested parties.

ENGAGEMENT

TPS engaged G2 Capital Advisors, LLC (“G2”) as its restructuring advisor in June 2020, following the liquidity and operational challenges to examine strategic alternatives and stabilize operations. Following an inability to reach an out-of-court solution with the key stakeholders, TPS expanded G2’s role by appointing Don Van der Wiel as Chief Restructuring Officer (“CRO”). The Company subsequently filed for Chapter 11 bankruptcy to facilitate a going concern sale of the Company. Through the CRO role, G2 became the chief fiduciary tasked with creating sufficient runway to preserve going concern value and maximizing potential recovery for all stakeholders. Through the CRO role, G2 actively navigated complex stakeholder dynamics, during a time when market instability was at an all-time high due to the continued pandemic. G2 developed and executed liquidity management tactics to maximize strategic options for the Company, as well as managed all transactional and bankruptcy proceeding timelines. With a long-term focus on maximizing value, G2 supported TPS’s sale process, leading to efficient and expeditious transaction execution.

Tom Anderson, President & CEO of The Paper Store said, “G2 was a true partner for The Paper Store as we navigated the highly disruptive impacts of Covid 19 across our business. The G2 team, with its operational and financial advisory capabilities, quickly understood our Company and situation, developed a set of strategic alternatives, and then assisted us in executing the strategy, resulting in a stabilization of day-to-day operations and the long term survival of the Company.”

OUTCOME

G2 provided day-to-day liquidity and process management support throughout the bankruptcy proceedings, including leading a tailored transaction process resulting in the signing of an asset purchase agreement in August 2020 and an eventual going concern sale of TPS on September 1, 2020 under Section 363 of the Bankruptcy Code for $22MM in cash consideration, plus the assumption of certain liabilities.The highly efficient court case process took 49 days from the petition filing date to the closing of the transaction.

Throughout the engagement and culminating with the successful transaction, G2 was able to assist the company in preserving nearly 2,000 jobs across the TPS platform. The strategic execution of the engagement also created significant value for junior creditors in terms of assumed liabilities.

“We are very proud of G2’s contributions to help TPS navigate through the complex challenges presented by the COVID-19 pandemic. The blend of our operational turnaround and transactional experience proved invaluable in allowing us to support the unique requirements of this project in an overall tough retail landscape.” – said Jeffrey Unger, CEO of G2 Capital Advisors.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as the Company’s bankruptcy counsel and SSG Capital Advisors, LLC served as investment banker for the transaction.

About The Paper Store:

The Paper Store, LLC, based in Acton, Massachusetts, is a leading specialty gift retailer with 86 stores located in the northeastern United States. Since its inception, the Company’s mission has been to help their customers find unique gifts to celebrate all of life’s occasions from humorous to heartfelt. The Company also believes in maintaining strong, local ties to the community thru various charitable endeavors. For more information, please visit https://www.thepaperstore.com.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors. For more information, please visit www.g2cap.com

Securities offered through Hollister Associates, LLC. Member FINRA, SIPC. G2 Capital Advisors, LLC and Hollister Associates, LLC are separate and unaffiliated entities.

G2 Capital Advisors CONTACTS ON THIS Transaction:

Jeffrey Unger, CEO:
E: [email protected]

Don Van der Wiel, Managing Director, Restructuring:
E: [email protected]

Konstantin A. Danilov: Vice President, Restructuring:
E: [email protected]

Matt Powers: Associate, Restructuring:
E: [email protected]