ABOUT THE COMPANY:
The Company is a global immigration services provider offering the only immigration management platform that makes it seamless for companies to hire and manage an international workforce.
SITUATION:
The Company experienced a decline in growth following 2H22 increased layoff activity and hiring freezes in the Company's largest end markets - the technology and professional services sector. The technology sector heavily relies on overseas talent who require visas. As visas were on pause and the number of visas the USA Immigration was offering was declining, this caused the Company to see a decline in revenue.
ENGAGEMENT:
G2 was retained to conduct a Phase 1 Assessment and developed a thorough report around the Company's financials, liquidity, and macroeconomic environment.
OUTCOME:
G2 quickly worked with the Company and the Sponsor to provide key stakeholders with additional metrics and reporting to improve visibility into the underlying economics of the business and better predict earnings and liquidity deviations.
DEAL TEAM:
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G2 was engaged as Chief Restructuring Officer (“CRO”). Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
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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.
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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.
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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.
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G2 conducted a Phase I Assessment focused on liquidity and cash flow management assessment, business and operational strategy review, refinancing options, and strategic alternatives.
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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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