Dustin Lough has over 20 years of financial management experience in turnaround, crisis management, business valuation, and acquisition due diligence in a wide variety of industries.
Marc Patterson is a business professional with ten years of management consulting experience in strategic planning, operations improvement, turnaround, and restructuring.
The company was a family-owned manufacturer of specialty ice cream and frozen novelty products. CR3 Partners was appointed CRO by the company’s Board of Directors to provide leadership to the management team, drive operational improvement initiatives, and support the sales process of the business. CR3’s work resulted in reduced overhead costs, improved customer relations and timeliness of product deliveries, and the identification and transition of a new CEO.
The Situation
Family-owned $25MM manufacturer of specialty ice cream and frozen novelties supplying natural food stores and major retailers
Company was undergoing change in senior leadership while pursuing sale of business
Company experienced acute operating and cash flow losses due to high fixed overhead costs and operational issues impacting delivery of products
The Work
Appointed CRO by Board of Directors to provide leadership to management team, drive operational improvement initiatives, and support sales process of business
Recommendations included operational restructuring initiatives and milestones, how to address certain cultural issues, and cost savings initiatives
Assessed near-term cash flow, negotiations with venders, implementing spending controls, and addressing operational issues impacting timeliness of product delivery
The Results
Company’s business model improved with lower fixed overhead costs, stronger relationships with customers and vendors, and enhanced culture
Identified and transitioned new CEO into leadership role in three months
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.
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' clients and referral sources agree that additional capital will be needed to return operations to the "new normal" after COVID-19. But how much capital will they need, where will it be deployed, and who will provide it?
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.