Renewable Energy Facility
Situation faced:
TAIGA was introduced to a loss-making Renewable Energy Facility operating with a wider Group. It was a highly complex situation with multiple stakeholders and funders. Funding requirements had developed for multiple reasons across the Group.
Outcome achieved:
TAIGA Led a de-merger of the facility from the Group at a substantial discount to cost. As part of the de-merger the business established a new trading relationship with previous owners and secured a substantial investment from new investors.
In addition, the business secured a multi-million R&D tax reclaim. Post de-merger Jeff Holder operated as interim CEO to allow investors to consider if existing the facility could become profitable. Ultimately it was concluded that this was not possible and TAIGA led a subsequent mothball process and sale to developers. Bank recovery was significant against original position on entry.
Duration: 15 Months
End: 2016