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The client is a $300MM heavy industrial construction company that experienced a decline in liquidity due to some significant chargebacks from customers related to disputed change orders, which pushed it into technical default with its secured lender. In addition, forecasted EBITDA was insufficient to cover fixed charges, support working capital and rebuild liquidity. CR3 was engaged to assess the 13-week cash flow, business plan and operations in support of a longer-term restructuring plan for the business; later retained as CRO. CR3 assisted the company in implementing a new weekly cash forecasting and management process, identifying EBITDA improvement opportunities, and identifying opportunities to raise cash.
Roll-up mergers can create significant value through scale and cost savings, but not all roll-ups perform as expected. Speed of integration may be the most challenging factor when acquiring and consolidating multiple assets.
Sometimes an unconventional approach validates an uncommon way of thinking. When an organization seeks interim management, it is typically distressed. A new CEO is named, and restructuring commences with the goal of continued operations or an exit.
How do a management team and Board of Directors know when to engage an interim manager, and how do different situations determine the type of interim manager they should hire?
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 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.
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.
CR3 Partners is pleased to announce that Tim Shanahan has joined the CR3 Partners team and will be based in its Chicago office.
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).
The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.