Alyssa Andrade is a finance professional with a background in private credit and banking. Her experience spans across various industries in the middle market and encompasses both the U.S. and Emerging Markets.
Conner Krumholz is a finance professional with experience in strategy and transactions, serving several clients across the consumer products and technology industries. He is skilled in performing economic analyses and in-depth research to evaluate various business environments and opportunities for new engagements.
Haywood Miller is a financial professional with experience in transaction advisory and risk advisory. He has performed due diligence services and executed various analyses and reports for his clients, including quality of earnings, net working capital, performance/profitability, and ad hoc analyses.
Alicia Moosally has over 20 years of experience in financial restructuring, litigation support services, financial and operational analysis, strategy, forensic accounting, and business valuation.
Mychala Schulz is a financial professional with a background in private credit and banking. She has experience in conducting primary due diligence, building LBO transaction models, and executing buy-side transactions within the lower middle market.
Spencer Ware is a turnaround and restructuring expert with over 20 years of deep experience in developing comprehensive business solutions in restructurings and reorganizations.
Heather Williams has over 20 years of professional experience in financial restructuring, litigation support services, financial and operational analysis, forensic accounting, business valuation, and corporate accounting.
Successfully sold core and non-core business units
Paid down secured debt
Prevented full liquidation
A passenger transportation company that faced a decrease in passenger counts caused by the COVID-19 lockdowns and never recovered to pre-COVID levels. CR3 Partners was engaged to assess the company’s liquidity, evaluate strategic options, and assist with financial preparations. A CR3 professional served as CRO and guided the company through a Chapter 11 bankruptcy, successfully selling core and non-core business units for continued operations.
The Situation
Passenger transportation company with 25 divisions across U.S. and Canada and approximately 3,000 employees and over 2,000 buses
Company faced drop in passenger counts caused by COVID-19 lockdowns and never recovered to pre-COVID levels
Company received multiple rounds of stimulus funding and Main Street loan due to its importance to North American transit system, but it was unable to return profitable operations in its current configuration
The Work
Engaged to assess company’s liquidity, evaluate strategic options, and assist with financial projections
Prepared cash flow model to consolidate various business units and run scenario analyses on various asset purchase offers
Served as CRO and guided company through Chapter 11 bankruptcy
Used Section 363 for four distinct asset purchase agreements, multiple auctions of excess buses, and sale of lease agreement
Worked closely with company’s management team, fleet, and operations personnel to manage multiple constituents including secured lenders, unsecured creditors, and board of directors
The Results
Successfully sold business units through six distinct transactions for continued operations, resulting in over 95% of jobs saved, paydown of secured debt, and continued operation of bus routes ensuring millions of passengers had continuing daily service
Prevented full liquidation of business through creative deal making, transaction structuring, and clear open communication
Cash is King — Credibility is the Crown When Dealing with Banks
In the last 20 years, turnaround professionals have assisted thousands of clients who were predominantly referred by stakeholders within the company who have money to lose.
Winston Mar Participates in the ABL Industry State of the Union Q1 2024
Winston Mar participated in the first 2024 installment of the quarterly ABL Advisor article series to discuss the state of the ABL industry and general market dynamics with other commercial finance industry participants.
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CR3 Partners Named to Consulting Magazine list of Best Small Consulting Firms 2021
CR3 Partners was recently named to Consulting Magazine's list of Best Consulting Firms to Work For. It is an honor to be part of this distinguished list of companies.
CR3 Partners announced that the firm received the Award for "Restructuring of the Year ($10MM to $50MM)" by M&A Advisor in the "Chapter 11 Reorganization Award" category.
Learn How Fraud and Valuation Matters are Handled During Bankruptcy
Dallas-based Partner Sugi Hadiwijaya recently teamed up with Jermaine Watson at Bonds Ellis on a podcast highlighting basic aspects of how fraud-related matters are managed in a bankruptcy context. Listen to the full podcast brought to you by AICPA's Forensic and Valuation Services Section.
Reed Smith's Keith Aurzada joins William Snyder and Dawn Ragan, both of whom served as financial advisors to the equity committee in the JCPenney case. Our speakers explain the valuation of JCPenney assets and how restructuring support agreements shaped this case.
CR3 Partners Adds New Service Offering and Continues to Expand
CR3 has appointed new Partner Suzanne Roski to expand and lead this practice in our new Richmond office. Suzanne's background includes over 35 years of professional experience with troubled companies, litigation, forensic investigation, and valuation consulting.
Partner, David Tiffany walks us through how CROs adapt to limits on on-site presence in the most recent installment of the Turnaround Management Association's Journal of Corporate Renewal.
CR3 Partners is proud to announce the expansion of its rapidly growing Los Angeles office by adding two Senior Associates, Alex Pettee and Ashtynn Baltimore. Along with the additions to the Los Angeles office, CR3 Partners would also like to announce its new Director, Avery Alcorn out of the Houston office.
CR3 Partners Honored with Two M&A Advisor's Awards
Led by Dustin Lough, the engagement team for The NORDAM Group, a large international aerospace company, received the Restructuring of the Year ($250MM to $500MM) award as advisors to the lending group leading up to and including the Chapter 11 bankruptcy proceeding.
CR3 Partners is pleased to announce that Sean Cunningham has joined as a Partner of the firm and will be based in its New York office. David Tiffany has been elevated to Partner of the firm in the Los Angeles office.
CR3 Partners is delighted to announce that Tim Skillman has joined as a Partner of the firm and will be heading the new CR3 Partners Los Angeles office.
Dawn Ragan is Interviewed for Journal of Corporate Renewal
Partner, Dawn Ragan, was recently featured in a Q&A article in the Journal of Corporate Renewal, the official publication of the Turnaround Management Association.
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).
CR3 Partners, a Dallas-based national turnaround and performance improvement firm, today announced that the firm was awarded a 2018 Turnaround Award for "Ch 11 Reorganization of the Year for ($25-100MM)" by M&A Advisor in the "Chapter 11 Reorganization Award" category.