Exclusive Financial Advisor
Project Adrian
About the Company
Adrian is an IT consultancy and managed services provider offering advisory, implementation, and support services to mid-sized businesses through three separate operating divisions. The Company is leader in providing full-scope digital transformation capabilities to its client base.
Exclusive Financial Advisor
Situation
Following a debt refinancing to fund working capital and strategic acquisitions, Adrian experienced a significant decline in financial performance – culminating in the Company breaching its financial covenants and entering into a forbearance agreements with its lenders.
Engagement
G2 was engaged by the Company to conduct an operational assessment and evaluate potential strategic alternatives for the business. In addition, G2 provided go-forward recommendations focused on boosting growth and preserving liquidity, as well as an assessment of management’s proposed turnaround plan.
Outcome
G2 completed a strategic alternatives assessment for Adrian’s Board of Directors in late 2017, which served as the foundation for lender negotiations and divisional M&A carveout considerations – which were supported by G2 throughout 2018. Adrian and its first lien lenders are currently finalizing the terms of an amended credit facility.
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.