Custom Displays
The Situation
- Manufacturer of fixtures for major electronics and experiential companies
- Company’s revenue was volatile, fluctuating by more than $100MM each year due to uncertain demand
- Company kept excess inventory on hand in the event of large orders and incurred high overhead costs
- Recent financial results that were below expectation led to a near term covenant breach with company’s lender
Role(s)
- Financial Advisor
The Work
- CR3 Partners was engaged to assist in lender negotiations and a debt restructuring
- Engaged with senior management and private equity sponsor to analyze financial results, support lender negotiations, and make recommendations
- Provided advisory and financial modeling support for lender negotiation
- Provided a hands-on and practical approach to debt restructuring while managing various constituencies, including management, senior lenders, and private equity sponsor
The Results
- Company successfully restructured its debt
- Company refinanced its ABL facility