Install and maintenance of fire, security and healthcare systems
Situation faced:
A loss-making Private Equity owned Group that was in crisis with an emergency funding requirement. Ultimately a £10m balance sheet / cash hole was identified as a source problem.
Outcome achieved:
TAIGA led a pre-pack restructuring and refinancing with Jeff Holder becoming interim CEO on behalf of the funders - with 100% of trade creditors paid and the bank achieving a 100% recovery.
Post pre-pack the business exited it’s loss-making contracts, undertook a rationalisation of Group and stabilised. TAIGA supported investors in their introduction of a sector focused team whilst transitioning out the need for specific restructuring / turnaround support before exiting.
Duration: 10 Months
End: 2017