ABOUT THE COMPANY:
The Company is a sponsor backed manufacturer of high-precision complex machined components, assemblies, and kits used by original equipment manufacturers and Tier 1 suppliers to OEMs in the defense industry. With its highly-advanced machining equipment and unmatched design and machining expertise, HMD is uniquely positioned to provide value-added complex parts and assemblies across a wide range of difficult-to-machine metals, including titanium, aluminum and stainless steel.
SITUATION:
The Company breached its debt covenants twice within a 12-month period and was struggling to effectively manage its balance sheet.
ENGAGEMENT:
G2 was engaged by lenders to execute an assessment of the Company’s operational improvement plan, financial performance, and organizational structure.
OUTCOME:
G2 successfully executed a thorough assessment of the Company's financial plan, operational strategy, and liquidity management and provided this full analysis to the Company and lenders, allowing the Company to take strategic steps to improve operational performance.
DEAL TEAM:
TAGS:
Exclusive Restructuring Advisor
Industrials & Manufacturing
Financial Restructuring
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Exclusive Restructuring Advisor
G2 was engaged as Chief Restructuring Officer (“CRO”). Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 was engaged to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.
Exclusive Restructuring Advisor
G2 was engaged to perform a Phase 1 strategic alternatives assessment.
Exclusive Restructuring Advisor
The Company engaged G2 as its Chief Restructuring Officer. Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 conducted a rapid Phase 1 Assessment and developed a report that included an assessment of the business, operations, and financial condition of the Company, short-term liquidity, near-term capital requirements, and strategic alternatives.
Exclusive Restructuring Advisor
The Company engaged G2 to assist in building the long-term financial model, a 13-week cash flow forecast, facilitate negotiations between the Company, the sponsor, and the lender group.
Exclusive Restructuring Advisor
G2 was engaged to complete a Phase 1 assessment of the Company’s financial forecasts and its ability to return to pre-COVID levels of financial performance.
Exclusive Restructuring Advisor
G2 conducted a Phase I Assessment focused on liquidity and cash flow management assessment, business and operational strategy review, refinancing options, and strategic alternatives.
Exclusive Restructuring Advisor
G2 worked alongside creditors and management to develop a Phase 1 Assessment. G2 advised the lenders with respect to the financial position of the Company.
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