Case Studies
Industry: Automotive
Tier II Automotive Supplier
Avoiding forced bankruptcy with an aggressive and successful turnaround
MorrisAnderson led the aggressive wind-down of under-performing facilities, including the restructuring and consolidation of profitable Mexican operations.
MorrisAnderson was engaged to explore turnaround options and help return the company to profitability after their line of credit was frozen by the bank.
MorrisAnderson was hired to market the company through a planned Chapter 11 sale process under ยง363, but to control costs, the company was sold through a UCC Article 9 sale.
MorrisAnderson was engaged by Private Equity to assess the viability of the business and determine options to create value. By selling an unprofitable division and identifying additional cost cutting opportunities, our team helped create $5 million in working capital and facilitate a renewed relationship between the lender and company.
MorrisAnderson was engaged by Private Equity to manage this liquidation and maximize value. By engineering an "out of court" bankruptcy, enough value was created to pay the secured lender 100% and recover $10 million in net value.
Industry Experience
- Automotive
- Business Services
- Construction Materials
- Consumer Products
- Franchise
- Metals
- Plastics
- Real Estate
- Transportation
- Other Industries
"Michael and Steven were able to successfully stabilize and rehabilitate Cosmolab Inc."
