ABOUT THE COMPANY:

The Company is a specialty importer and distributor of non‐perishable food and beverage products to foodservice distribution customers across the U.S. The Company generated $124MM in revenue and $6.5MM in adj. EBITDA in FY’19.

SITUATION:

The significant decline in restaurant traffic resulting from the Covid-19 pandemic lockdowns reduced demand for the Company’s products, resulting in EBITDA decline and strained liquidity. In late 2019 the Company defaulted under its credit agreement, and the parties entered into a forbearance agreement, which expired. The lender wanted a financial advisor to conduct a formal assessment of the borrower's business and present findings.

ENGAGEMENT:

The lender engaged G2 to complete a Phase I Assessment. G2 spent four weeks deeply researching and analyzing the Company to gain an understanding of its competitive positioning, forecasted performance, liquidity and capital structure viability, and understanding of management strategy and organizational capabilities. G2 then delivered its assessment providing insights about the company's business, team, product mix, and risks and considerations. G2 recommended a plan to unlock value for this key stakeholder.

OUTCOME:

Shortly after reviewing G2's conclusions, the senior lender closed on a restructuring in which it exchanged a portion of its debt for all borrower equity, created a new holding company, and reinstated $30MM of debt with a new revolving line of credit.

DEAL TEAM:

TAGS:

Exclusive Restructuring Advisor

Transportation & Logistics

Financial Restructuring

Strategic Assessment

Operational Revitalization

MORE LIKE THIS

Exclusive Restructuring Advisor

Image

Successful execution of Phase 1 Assessment

Exclusive Restructuring Advisor

Image

Successful execution of Phase 1 Assessment

Exclusive Restructuring Advisor

Image

Successful execution of Phase 1 Assessment

Exclusive Restructuring Advisor

Image

Successful execution of Phase 1 Assessment

Exclusive Restructuring Advisor

Image

Assignment for the Benefit of Creditors

Exclusive Restructuring Advisor

Image

Successful execution of Phase 1 Assessment

Exclusive Restructuring Advisor

Image

Assignment for the Benefit of Creditors

Exclusive Restructuring Advisor

Image

Successful execution of financial restructuring for Project Diddy.

Exclusive Restructuring Advisor

Image

Financial Restructuring

Exclusive Restructuring Advisor

Image

Financial Restructuring

Connect With Us.

Image
Homepage Contact
Services of Interest