Matt Grimes has 30+ years in corporate lending, restructuring, and business consulting in the middle and lower-middle market. He has worked with management teams and equity holders to assess operational and capital structure issues leading to significant improvements in corporate performance. These operating and financing solutions provide material increases in liquidity and cash flow which allow funding for growth and acquisitions.
Representative Experience
Advisor to a food and beverage manufacturer that was in default of its bank loan covenants and overadvanced in excess of $1MM on its revolving credit facility. Led assessment that identified areas of improvement and implemented strategic enhancements, negotiated a restructured borrowing base with the bank, improved sales to inventory ratio, and developed rational working capital position.
Advisor to a business services company in Chapter 11 that specialized in the planning, funding, management and sale of carbon credits in the voluntary carbon market. Developed projected cash flow assumptions, reviewed and revised DIP budget, interviewed potential DIP lenders, and successfully exited from Chapter 11.
CRO for a financially distressed $100MM+ telecommunications equipment manufacturer, leading the company to extend its business plan and maximize recovery for its stakeholders. Implemented an out-of-court wind-down and dissolution, including the monetization of all saleable assets, both operating and non-operating, and liability settlements with all secured and unsecured creditors.
Advised a $100MM+ bottling company was in violation of its fixed charge and liquidity covenants, which led its senior secured lender to significantly limit funding. Reviewed and revised a potential second lien DIP and structured a potential asset-based lending Chapter 11 exit financing. The company and lender ultimately completed an out-of-court restructuring.
Reviewed and restructured in excess of fifty credit facilities ranging from $5MM to $200MM+ that were experiencing a liquidity crisis and/or cash flow covenant violations. Advised management on increasing liquidity using previously unlevered assets and/or utilizing other credit enhancements. Changes allowed companies to significantly improve liquidity and/or cash flow resulting in current lender extending credit facility, company being refinanced, or a successful sale of the company.
