AEG served as financial advisor to this stressed distributor of consumer recreational products.   Impacted by a drop in sales due to a market slowdown, the Company was no longer in a position to service its debt.

AEG served as financial advisor to a consumer lending company sourcing transactions across North America.  The Company had been impacted by the higher interest rate environment and growing delinquencies in the portfolio.  

A team from AEG recently assisted two southwest-based universities looking to merge in order to strengthen their overall financial position. 

AEG was recently engaged to assist a manufacturer of chemicals struggling in the wake of post Covid volatility in commodity prices.   AEG assessed the company’s financial and operational performance, vetted management’s turnaround plan, and developed further performance improvement recommendations.

A lender group recently requested AEG to take a board role at this manufacturing firm to facilitate a delayed sale process.  In that position, AEG was able to quickly size up the situation and resolve long simmering disagreements among the senior lenders, subordinated lenders, and the private equity sponsor. 

AEG was recently requested by a private equity firm to assist with a portfolio company, a West Coast-based manufacturer of defense products.

This automotive parts manufacturer was under scrutiny from its lenders as the company suffered a series of setbacks, including labor and production issues.

AEG was initially retained as advisor to assess company’s liquidity position and the viability of an in-the-market sale process which had languished for over a year.  

AEG recently assisted a US-based manufacturer of products supporting lithium-ion battery production in both a restructuring and a successful re-financing.   AEG was originally engaged as financial advisor to address the company’s liquidity position and to define go-forward options.     

AEG was recently retained by a lender to a manufacturer of specialty building projects for large commercial construction and renovation projects.

AEG was recently engaged to assist this Northeast based provider of health care testing and diagnostics to improve liquidity visibility as well as to analyze the Company’s business plan.

AEG stepped into assist a sponsor-backed SaaS operation based on the East Coast which had recently undergone a wholesale change in both ownership and management.

In the midst of a highly contentious situation, AEG was retained as restructuring board member to assess a stalled sale process and drive the go-forward path for this roll up of behavioral health care businesses.

AEG recently served as financial advisor to a Midwest-based manufacturer of building fixtures impacted by international supply chain delays and inflation driven higher input costs

AEG was retained as Chief Restructuring Officer for a Midwest based distributor of building products for the residential construction market.   At the time AEG stepped into the role, negotiations between the lender and Company had broken down. 

​ AEG was recently retained as CRO for a private equity backed nationwide roll up of construction service businesses.   Suffering from a variety of issues including poor performance during the pandemic, heavy management turnover, and a critical loss of bonding capacity, the Company was facing a severe liquidity crisis when AEG took on the role.

AEG was recently engaged by a west-coast based operator of a for profit school.   The school was suffering from enrollment declines and related cash flow reductions due to the extremely strong job market.    AEG’s team stepped in immediately to assist the management team on analyzing and developing a viable cash plan, identifying and implementing a series of expense cuts, and advising the company on refinancing of the school’s interim financing. 

AEG was recently engaged to assess the business and liquidity issues facing a materials manufacturer in the face of dramatically shifting demand patterns.  With production capacity in both the US and Europe.  AEG’s role will include addressing underperformance issues, along with developing a plan to navigate the change in sale channels from traditional manufacturers toward rapidly growing technology markets.  AEG will also assist the Company in obtaining new funding to assure adequate funds to support the transition.

Craig Dean, Managing Principal of AEG, participated in the recent Turnaround Management Association event “The Inside Story of a Chief Restructuring Officer (CRO)”.  He was joined by other top leaders within the turnaround industry.  Among other things, Craig addressed the complexities of stepping into the CRO role as well as how to work with skeptical boards, management teams, and owners to drive good outcomes.  A replay of the panel can be found here:  https://www.youtube.com/watch?v=LK0kGdN86U4

Craig Dean, Managing Principal of AEG, will be a panelist at the upcoming Turnaround Management Association event “The Inside Story of a Chief Restructuring Officer (CRO)”.  Joining Craig will be other top leaders within the turnaround industry.  Their discussion will provide an in-depth description of a CRO’s role in helping distressed companies as well as explore a variety of issues facing a CRO when stepping into these challenging situations.   This virtual event will be held on Tuesday, June 29 at 4:00 pm (CST).  Registration can be found on the TMA website at: https://online.turnaround.org/tmassa/evtssareg.custid?p_event_id=7257

AEG Partners was recently retained by a senior lender group to assist in the restructuring of an operator in the food service sector. Facing a sharp decline in revenues due to COVID 19 combined with needed capital investment to meet the market requirements of its customers, the Company had a severe liquidity crisis looming.   Working with management and the capital constituents, AEG led the negotiation of a consensus driven out-of-court restructuring, attracting new financial commitments from both the private equity sponsor and the senior lender to allow the Company to manage through this challenging period.

AEG Partners serves as financial advisor to a private equity–backed dental service organization based in the southeastern US. The Company came under pressure as the result of mandated shut downs due to the pandemic, exacerbated by unrelated revenue cycle management issues and difficulty in integrating acquisition.   By identifying and addressing a series of issues that encompassed dentist recruiting issues, unprofitable locations, system issues as well as collection matters, AEG successfully developed a viable go forward plan and facilitated a restructuring of the business.

As has been said so many times, 2020 was a year like no other. While finding new ways to work, AEG  kept our focus on delivering value to our clients, delivering quality outcomes in difficult situations. In 2020 this included work in healthcare, automotive, food, building products, apparel and manufacturing, among other industries.
 
Thank you to all who entrusted AEG to assist with your stressed assets as we move on to our 21st year of restructuring work.

View Full Newsletter here 

AEG recently was appointed board member and Chief Restructuring Officer to facilitate a restructuring and sale of multiple operating businesses for a nation-wide operator of multi-center health clinics.  Faced with an increasing contentious situation among capital constituents, AEG’s role has included developing a go forward strategy to support and accelerate a sale process.   AEG has worked actively with the management team to create visibility into the Company’s liquidity situation, to negotiate additional financing to support continuing operations, and to coordinate with multiple investment banks to execute on the sale of the Company’s various lines of business.

AEG was recently appointed Receiver to drive resolution of a series of issues facing this Gulf Coast-based operator serving the oil and gas sector.   The main secured lender moved to appoint a receiver after the Company’s  performance steadily declined in the face of significant litigation, a protracted sale process, and the sharp downdraft in the oil and gas sector.  AEG’s team moved quickly to determine the liquidity necessary to keep the business operating while dramatically reducing the operating cost structure, positioning the Company to best monetize assets.

AEG Partners is serving as restructuring advisor to a closely held, southeast based provider of building products and installation services to major construction contractors.   AEG’s role has been to assist the company in evaluating the liquidity issues as well as to identify and address persistent operating challenges.   At the same time, AEG has defined the strategic options available to the company, led negotiations with the company’s key lenders, and ultimately led the sale process for the company.

AEG recently assisted a second lien lender to a consumer products company operating in the multi-level marketing space.   Leveraging AEG’s prior experience with distressed firms in the industry, AEG provided unique insights into expected recoveries stemming from a product wind-down strategy, the value of the company’s consultant network, as well as intangible assets including the brand name.   In addition, AEG was able to preserve a series of assets that allowed the lender to enhance its position among the capital constituents.

AEG recently teamed with the Thompson Coburn Law Firm and Stifel Financial to discuss issues facing distressed higher education institutions.   Craig Dean, Managing Principal, who has worked on many aspects of school restructurings, participated from AEG.   Discussions covered a range of issues relevant to today’s environment, including internal restructuring actions, merger and acquisition strategies as well as more drastic measures such as orderly campus closures.   Thompson Coburn Education Practice Head Aaron Lacey led the panel, which also featured Brian Dietze, Head of the Education Investment Banking Group at Stifel Financial.   The recording of this webinar and presentation slides can be viewed at:
webinar recording: https://www.thompsoncoburn.com/insights/tcle/presentation/detail/2020-04-02/contingency-planning-for-distressed-institutions-of-higher-education
slide presentation: https://on24static.akamaized.net/event/22/52/74/8/rt/1/documents/resourceList1586358815218/202048hewebinardistressedinstitutionsfinal1586358813819.pdf
 

AEG recently completed a Chief Restructuring Officer engagement, leading a Southeast-based automotive tooling business through a restructuring and sale.  With the Company facing a severe liquidity crisis and overburdened with debt, the AEG team worked quickly to rationalize operations, stabilize the business and keep its supply chain active.  Without additional capital available to support the business, AEG believed the long term core strengths of the business, including an extensive installed base of production machines and a strong reputation for quality tooling, was sufficient to attract potential acquirers.  Moving under extreme time pressure, AEG worked closely with the Company’s secured lender to complete the sale via an Article 9 foreclosure process – providing a more cost efficient, timely and certain path to the transaction.  Despite two potential acquirers stepping away at the closing table, AEG was able to extend the operating runway to close the acquisition by a foreign based, strategic buyer.

AEG Partners was recently retained by a Southwest-based construction contractor facing liquidity issues and a highly leveraged balance sheet.  With multiple major customers simultaneously working on delayed projects combined with significant volatility in its invoicing and collection process, AEG assisted the company in improved job bidding procedures as well as creating better visibility for upcoming cash requirements.  This effort has created the runway for AEG to assist the company with its sale negotiations to a strategic buyer.

AEG recently served as the financial advisor to a secured lender in evaluating its position with a nationwide cellular service borrower.   The lender asked AEG to review its options and potential recovery in the wake of the borrower’s multiple defaults and liquidity pressure stemming from consolidation in its customer base.  AEG mobilized quickly to understand the nature of the risks, define the near term cash requirements, and identify a viable path forward, which laid the groundwork for an out-of court settlement.

AEG Partners was recently brought in as Chief Restructuring Officer by the private equity owner of an international automotive tooling manufacturer with locations in North America, Europe, Asia and South America.   With the company facing an imminent liquidity crisis, AEG immediately worked to stabilize the cash position, retain key managers, exit underperforming geographic regions while at the same time improving customer order delivery metrics.  These actions helped build the confidence of the senior lender for the company necessary to support an orderly sale process.

AEG Partners advised a family office on issues related to a joint investment with a well-known private equity sponsor.  Despite growing demand for the company’s services, underperformance issues strained liquidity and caused lenders to tighten credit agreement covenants.  AEG assisted the family in negotiating a restructuring agreement among the senior debt, subordinated debt and other equity holders, which successfully provided runway to stabilize operations and resume the company’s growth path.

AEG was recently engaged by a West Coast based, global distributor of consumer products during a period of strained liquidity and declining availability under its  credit agreements.  Private ownership and the executive team retained AEG to build an accurate and timely cash forecasting process that was transitioned to the Company’s financial team going forward.  At the same time, AEG assessed and identified improvements in the Company’s restructuring plan, created the associated three year financial forecast, and facilitated the sale process in close coordination with the Company’s  investment banker.

Craig Dean, AEG Managing Principal, led a joint presentation with Aaron Lacey, Partner at the Thompson Coburn law firm, at the 2019 NASASPS Conference held on April 15 and 16 in Jacksonville, Florida. The presentation explored restructuring options available to operators of higher education schools. The National Association of State Administrators and Supervisors focuses on effective state regulation of private postsecondary education.

AEG was recently retained by a west coast manufacturer of building products as Chief Restructuring Officer.  Based on structural changes in its primary markets, the company's profitability has been under pressure.  AEG's work will focus on rationalizing expenses, implementing performance improvement initiatives, and developing a comprehensive restructuring plan for the senior, mezzanine and equity capital.

AEG was recently retained by an operator of a chain of urgent care facilities to assist in reviewing performance issues brought on by management turnover and declining performance metrics.   Working closely with the Company’s leadership team, AEG’s role included refining the company’s cash flow forecasts,  validating the impact of cost reduction initiatives, and assisting management in identifying substantive opportunities to improve performance.  The Company is now pursuing a capital raise.

Jaron Hite has joined AEG Partners in the role of Associate to assist with client restructuring activities.  At AEG, Jaron will serve on client teams and assist in developing cash flow and three statement models, as well as providing overall analytical support.   He brings a strong background in evaluating and analyzing operational effectiveness, due diligence analyses, and in assessing financial strengths and weaknesses of client operations.  Jaron previously served on the audit staff at Ernst and Young before joining RedRidge Finance Group, where he was involved with a wide range of corporate due diligence activities.

AEG Partners was recently engaged by a senior lender group to a transportation services group involved in a contentious restructuring.  AEG is providing a detailed assessment of the strategic options available to the lenders, and assistance in negotiations.  The work includes an assessment of management’s turnaround strategy and options to divest or exit certain lines of business.

AEG Partners was recently retained  by a profitable but underperforming health care products manufacturer to develop a consignment inventory management and measurement plan.  AEG led a cross-functional implementation process to establish a consistent, reliable methodology to track inventory, as well as establish profitability metrics for deploying consignment inventory.  AEG’s work created the platform for the Company to resume top-line growth. 

AEG Partners was recently engaged to conduct a comprehensive business assessment for an early stage eCommerce company serving manufacturers, retailers, installers and service providers in the automotive sector.  The assessment included an industry overview, financial analysis and an in-depth review of the company’s operational capabilities versus market requirements.  As part of the engagement, AEG's work also included identifying go forward liquidity requirements to support the Company’s growth plan and become fully operational

AEG was recently appointed Chief Restructuring Officer for a Midwest-based wholesaler to the supermarket and restaurant sectors. The Company is experiencing stress in the wake of the loss of a major customer. AEG’s role includes assisting the Company in managing liquidity, working with key vendors and monetizing excess assets.  In addition, AEG will work with the Company and key stakeholders to develop a go forward strategy.

AEG Partners’ performance improvement team was recently hired by a leading medical device manufacturer to complete a comprehensive assessment of the company’s manufacturing and production activities as well as sales channel strategy.  AEG’s role includes evaluation of manufacturing costs, inventory management processes, customer fulfillment issues and the effectiveness of the company’s go to market activities.  Dave Riesmeyer, Managing Director, is leading the engagement on behalf of AEG.

AEG Partners led a panel discussion during the February meeting of the Houston Turnaround Management Association. The panel explored the key drivers and lessons learned during the turnaround of Houston based Compressor Engineering Corp. (“CECO”), where AEG held the positions of CRO and Interim CFO.  CECO was the 2016 Chicago/Midwest Chapter Large Company Turnaround of the Year Award winner.

A Midwest based for-profit secondary education company recently retained AEG Partners to evaluate strategic options and to assist in managing liquidity.   The Company has been challenged with both financial and operational issues as well as general enrollment headwinds impacting the entire industry.  In working with management and the private equity owner, AEG has developed cash management tools, assisted in vendor negotiations, identified near term pockets of liquidity, and helped define and assess the impact of various strategic paths going forward.

AEG Partners was recently retained to provide business assessment and restructuring services to the agent of a $75 million secured credit facility.  The borrower is a logistics company with extensive operations throughout North America.   AEG’s work focuses on assisting the bank group in evaluating the company's liquidity requirements, assessing the company’s financial plan and turnaround initiatives, and evaluating strategic alternatives.  In addition to restructuring specialists, AEG brings extensive logistics / supply chain expertise to the engagement.

AEG Partners has been retained by a leading Midwest based automotive components manufacturer as financial advisor to provide a business assessment, assistance in managing near term liquidity issues and identifying operational improvement opportunities.  AEG’s role also includes identifying viable strategic alternatives for the company and leading restructuring negotiations among the senior, mezzanine and equity stakeholders.

AEG Partners was recently retained by a Real Estate Development company to assist in the company’s growth and the development of its financial systems.  AEG is acting as interim CFO focused on strategic assistance with various real estate development activities, improvements in financial reporting and the restructuring of certain portfolio assets.   The engagement is led by Dave Riesmeyer who heads AEG’s CFO Advisory practice.

AEG Partners is pleased to announce it has been awarded the 2016 Large Company Turnaround of the Year Award from the Chicago/Midwest Chapter of the Turnaround Management Association for its work related to Compressor Engineering Corporation (CECO).  Based in Houston, Texas, CECO manufactures and repairs compressor parts and performs pipeline integrity work for the energy industry.