Western Power & Equipment (WPEC)
Financial Advisor. Largest J.I. Case equipment dealership in Portland, OR and Vancouver, WA area with approximately $150 million in revenue. $20 million debt.
- Company was out of formula on existing $30 million Case floor plan.
- Attempted sale of the business was unsuccessful.
- Company faced a significant crossroads as it was also losing trust of the OEM.
- MorrisAnderson (MA) worked with the Company’s management to develop a financial model and achievable set of financial projections.
- MA assisted the Company in negotiations with the OEM. The negotiations resulted in a deal with Case to sell back inventory to corporate.
- Executed on various cost cutting initiatives as well as closed or sold select dealerships.
- The sale of equipment back to Case enabled the Company to redirect business line and move forward.