Food Production & Packaging Company
An out-of-state, court-appointed Receiver engaged ABTV to assess the company’s process capability, adherence to regulatory standards, development of cost and performance standards, and inventory controls. We were engaged to act in an advisory capacity to the Receiver. In addition, ABTV performed SKU cost and production analysis by brand and made recommendations on production and inventory targets. As a result, the company received the TMA Small Business Turnaround of the Year Award in 2015.
Multi-Hotel Financial Assessment
ABTV was retained by the lender to analyze company financials for a multi-property hotel group in order to determine viability, cash usage, accuracy and applicability of financial statements. We also assessed the ability of the properties to service debt and reach positive results in a reasonable period of time. We performed as complete an analysis as possible—given very limited accurate information sources—on property operations, financial statements, benchmark data, bank records, and tax returns.
Large Multi-Specialty Healthcare Provider/Physicians Practice
A large multi-specialty healthcare company faced challenges when its primary lender expressed concerns about its viability, collateral reporting, cash forecasting and utilization capabilities, and payables management. ABTV was engaged to act in an advisory capacity, focusing on the identified issues. ABTV’s involvement was later expanded by management to assist in managing the incumbent lender relationship and successfully locating and obtaining replacement financing. ABTV implemented a number of operational improvements of a multi-phase financial restructuring plan that incorporated a broad-based expense reduction plan, allowing for the use of additional collateral, which resulted in significant improvement of overall liquidity.
Direct Sales Women's Apparel Company
ABTV was engaged as interim Chief Restructuring Officer and business advisor for a direct sales women’s apparel company, which maintains a national sales presence with manufacturing operations in China and Hong Kong. The company was in violation of loan covenants and was in a liquidity crisis and had lost creditability with its largest lender. ABTV has worked and is working with the company management to develop a reliable weekly cash flow model, strategic and detailed operational plans along and helping improve the company’s relationship with its lenders.
Large, Diversified Agri-Business Company
A privately held agri-business company experienced rapid growth for several years, which had progressively strained its organizational, operational and financial structures. ABTV was retained to provide interim management services to guide the company through the process of a corporate restructuring, successful refinancing of its bank indebtedness, and a total overhaul of its operational and management processes, and business systems. ABTV also developed and implemented an integrated business enterprise software system. ABTV remains engaged and is actively working with family ownership on estate and business management transition planning.
Private Equity Firm’s Portfolio Company
Engaged by two private equity firms to develop a restructuring strategic plan for the consolidated and multi-divisional operations of a severely underperforming portfolio manufacturing company with locations in Atlanta, Georgia and Memphis, Tennessee. The plan encompassed execution plan strategies and implementation steps and timetables for all marketing (branding, market positioning and target marketing programs), sales (organization, customer/sales network and pricing methods), operations (lean manufacturing, quality control programs, development of materials management and production capacity planning systems), and setting up financial performance metrics and benchmarking, cash flow forecasting and liquidity management models and methods.
Water Bottling & Distribution Company
Selected to execute a feasibility and situational analysis of multi-location companies in Jackson, Mississippi involving a complete business analysis and evaluation of its organizational, marketing, sales, operational and financial segments. This work included developing go-forward strategies for a “what if” scenario of the newly restructured business and/or executing a “sale strategy” to targeted strategic buyers.
Middle Market Apparel Manufacturer
An apparel manufacturer that had suffered a failed acquisition and deep losses over the prior three years had been placed in special assets by its lender; there was significant obsolete inventory; and, the organization had become dysfunctional over its 50-year history. ABTV, retained as long-term financial advisor, recommended an aggressive asset management program to reduce inventory in order to improve the bankability of the company. ABTV prepared a strategic plan that required divesting the failed business segment, removing a problem officer/shareholder, aggressively reducing inventory to improve bankability, and pruning customers and products to improve margins. After taking these actions and liquidating the inventory from the failed acquisition, ABTV successfully arranged refinancing. These actions solved the major functional issues, eliminated the losses and provided the liquidity needed to continue operations. ABTV continues today as a member of the board of directors.
Long-Time, Large Textile Manufacturer
A bank had hired another turnaround company to evaluate this 100-year-old family-owned textile manufacturer due to sudden large losses, which were not totally understood by the company. The bank and the company were dissatisfied with the report and proposed actions, and ABTV was engaged to replace them. The client company was pleased with ABTV’s analysis and proposed solutions and hired ABTV to implement the plan as the first CEO outside the family. ABTV served as interim CEO, brought in a replacement lender, significantly strengthened the company’s balance sheet and cash position, successfully refinanced its debt structure and hired and trained the replacement CEO.
Large Regional Home Builder
ABTV was engaged to work and guide the privately held company’s next- generation CEO through the development of a strategic plan encompassing all of its marketing, sales, operational and financial segments. ABTV participated in and coordinated an assessment and evaluation of the company’s existing financing and debt structures in order to arrive at optimal financing and debt arrangements that best fit the company. This also included ABTV’s participation in monthly operational and financial management meetings with the company’s management team, along with training and mentoring the company’s new CFO and providing an overview of financial operations, systems and reporting.