ABOUT THE COMPANY:
The Company provides value-added outsourced loading and hauling services to waste management companies under exclusive, long-term contracts.
SITUATION:
The Company earns the majority of its revenue from several large domestic residential and commercial waste companies. Such high customer concentration leaves the Company with a limited ability to negotiate on price for customer contracts. In addition, a lack of working capital controls, strategic missteps on the part of the management team, and large outstanding insurance obligations have left the Company with a short-term liquidity crunch.
ENGAGEMENT:
G2 provided expertise in the form of a CRO sourced from inside G2, the identification of a new CEO, the maximization of short-term liquidity, and recommendations for new working capital controls.
OUTCOME:
G2 successfully completed an operation restructuring of the Company. Leading to an eventual Article 9 used to rightsized the balance sheet and alleviate the business of excess debt.
DEAL TEAM:
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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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