Mid-sized Oil & Gas producer breached covenants with lender, which triggered loan repayment and cash sweeps. Management was not able to manage crisis thus CFO resigned.
- Negotiated 60 days from lender
- Developed recapitalization plan
- Secured take-out financing
Management was looking for a financial partner who would provide $20 – $30MM growth capital to acquire additional funeral homes in Western Canada.
- Successfully replaced existing $7MM senior debt loan with revolving facility of $20MM
- Provided advisory services on three funeral home acquisitions
- On track to double in annual revenue and EBITDA
Medium sized O&G services company grossing $10MM in revenue a year had poor accounting and internal controls. Company unable produce accurate financial reporting.
- Two full-time designated accountants staffed
- Successfully recreated two years of accounting records and provided weekly reporting to lender
- Uncovered over $750,000 of lost working capital