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The company was a family-owned $200MM distributor of swimwear products that had fully drawn on their ABL facility and left with few options, including a potential bankruptcy. CR3 Partners was retained as operational and financial advisor by President and COO to provide analysis, negotiate forbearance agreements and short-term extensions, tighten control on non-operational spending, and conduct market research for new lenders for ABL facility. Company secured new lender with lower upfront fees and less stringent covenant provisions after determining legacy lender would leave company with little cash for future growth investments.
Dallas-based Partner Sugi Hadiwijaya and Vin Batra discuss the value creation for private companies in respect to two factors: EBITDA/cash flow and capital structure.
CR3 Partners is proud to announce that Michael Sicari has joined the firm as a Senior Associate in the New York office. Dallas-based Partner, Mike Juniper will appear as a panelist in "Out-of-Home Entertainment: Ready for TakeOff, or Ready to Disappoint?" on May 6 at ABI's Virtual VALCON experience.
When restructuring advisors are engaged to stabilize their clients' operations, they often focus on cutting expenses and controlling disbursements.
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.
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 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.
The CR3 Partners Board of Managers is pleased to announce that Jeff Armstrong and Dawn Ragan have been admitted to the firm's partnership.
The CR3 Partners Board of Managers is delighted to announce that James Katchadurian has been promoted to Partner with the firm.