ABOUT THE COMPANY:

Priority is a division of a large, sponsor-backed transportation and logistics company that provides final mile delivery and courier services.

SITUATION:

Priority was acquired by the parent in 2015 but its operations were never integrated. The Company subsequently experienced a deterioration of results resulting from a lack of investment and management bandwidth. In 2018, the Company’s private equity sponsor executed a successful sale of the parent's international operations and began looking to carve out Priority's business before selling profitable U.S. operations.

ENGAGEMENT:

The private equity sponsor retained G2 to serve as its advisor in connection with an assessment of strategic alternatives for Priority that would allow it to keep the Company out of bankruptcy, including a distressed sale and a wind-down of Priority’s operations. During Phase I, G2 developed a budget and timeline for a wind-down as well as an analysis of a distressed sale and cash infusion. After determining that market conditions did not support a sale process, in Phase II G2 commenced a wind-down of Priority’s operations.

OUTCOME:

Over the course of two months, G2 successfully wound down Priority’s operations, completing its work under budget and faster than the proposed timeline.

DEAL TEAM:

TAGS:

Exclusive Financial Advisor

Transportation & Logistics

Operational Revitalization

MORE LIKE THIS

Exclusive Financial Advisor

Image

has received a growth capital investment from BBH Capital Partners

Exclusive Financial Advisor

Image

a portfolio company of Dubin Clark has been refinanced by a subsidiary of Emigrant Bank

Exclusive Financial Advisor

Image

Phase 1 Strategic Assessment  

Exclusive Financial Advisor

Image

has been acquired by TPS Group Holdings, LLC. through a Chapter 11 Section 363 Sale Process  

Exclusive Financial Advisor

Image

received a growth capital raise

Exclusive Financial Advisor

Image

ABL Revolver & Long Term Loan Financing fron PNC Bank and Energy Impact Partners

Exclusive Financial Advisor

Project Affix

Phase 1 Strategic Assessment

Exclusive Financial Advisor

Project Air

Phase 1 Strategic Assessmment and Operational & Financial Restructuring

Exclusive Financial Advisor

Project Fleece

Phase 1 Strategic Assessment & Financial Restructuring & Sell-Side

Exclusive Financial Advisor

Project Iron Hoop

Phase 1 Strategic Assessment

Connect With Us.

Image
Homepage Contact
Services of Interest