• Turnaround plan executed
  • Company expanded
  • Improved EBITDA

The company was an interstate bus system that experienced EBITDA decline due to competition from budget airlines, inefficient route network and low return on operational assets. CR3 served on a team of consultants to assist in route optimization, cost reduction, and operational improvements, including scaling back unprofitable bus routes and identifying other performance improvement plans. CR3 successfully implemented a turnaround plan and the company was able to continue expansion efforts in the U.S. and Canada, improve EBITDA, and pursue customer focused improvements to maintain marketplace relevance.

The Situation

  • Largest interstate bus system transporting passengers to over 3,800 locations across North America
  • Experienced EBITDA decline over time due to competition from budget airlines, inefficient route network, and low return on operational assets

The Work

  • Served as members of a team of consultants engaged to assist in route optimization, cost reduction, and operational improvement projects
  • Worked closely with management team to undertake the project for western half of U.S.
  • Recommended scaling back unprofitable bus routes to optimize revenue per passenger mile and load factor
  • Restructured terminal and support operations, implemented cost reductions, and introduced KPI tracking to measure progress
  • Identified other performance improvement plans related to driver dispatch operations, maintenance program, and bus replenishment strategy

The Results

  • Successfully implemented turnaround plan within a six month timeline
  • Company expanded to remainder of U.S. and into Canada
  • Significantly improved EBITDA and was able to pursue additional customer-focused improvements to be more competitive

Explore Insights

View All
Four Paths to Increase Revenue in a Turnaround
Article

Four Paths to Increase Revenue in a Turnaround

When restructuring advisors are engaged to stabilize their clients' operations, they often focus on cutting expenses and controlling disbursements.

Read More
CR3 Partners Adds Manager and Two Senior Associates
News

CR3 Partners Adds Manager and Two Senior Associates

CR3 Partners is proud to announce its new Manager, Mark Kennedy, and its new Senior Associate, Lee Hiles, in the Atlanta office. We also made a recent addition to its new Richmond office with Senior Associate, Katie Usera.

Read More
CR3 Partners Advises NEOPS Alongside SSG Capital on Sale of Debt
External Link

CR3 Partners Advises NEOPS Alongside SSG Capital on Sale of Debt

SSG Capital Advisors, LLC (SSG) acted as the investment banker to New England Orthotic & Prosthetic Systems, LLC and its affiliates in the sale of all of its outstanding senior debt to AHM Healthcare Strategies (AHM), an affiliate of Eschen Prosthetic and Orthotic Laboratories, Inc. (Eschen).

View
Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm
News

Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm

The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.

Read More
Contact Us

CONTACT US

Do you have any further questions? How can we help you? Get in touch with us.

CONTACT US