Special Situations & Restructuring
Our dedicated Special Situations team helps clients develop, evaluate and execute accelerated M&A, refinancing and debt restructuring transactions confidently and quickly.
Our team has extensive experience across a range of situations, transaction sizes, ownership structures and stakeholder groups. Expertise includes debt-for-equity swaps and other negotiated balance sheet restructurings, for strong businesses with sub-optimal capital structures or businesses suffering momentary trading or operational challenges.
We use a collegiate and collaborative approach with key stakeholders to deliver creative and innovation solutions, which in our experience maximises the likelihood of greater value retention and subsequent recovery. Our approach also facilitates earlier intervention enabling more options to be considered.
Although we are familiar with the formal restructuring and insolvency tools available, we prefer to work with independent restructuring/insolvency’ firms if required, ensuring our advice remains clear of any potential conflict.
Support we provide includes the following situations:
Performance review / options analysis
Initial review and challenge of management plans, including assessment of deliverable options for business based on current performance and situation
Performance improvement / transformation plans
Developing defensible profit improvement plans with management to underpin ‘next steps’ planning including an M&A and / or a refinancing process
Complex or urgent refinancing
Full spectrum refinancing from performing credits through asset-based lending and stretched mezzanine, to minority equity
Challenging M&A / AMA
Sector led M&A including accelerated sale processes (e.g. less than four weeks), managed to optimize value preservation, in part through a ‘hands on approach’ to preparation and supporting management “front run” due diligence
Complex non-core disposals / carve outs
Developing business or re-organisation plans to facilitate disposals of non-core activities / subsidiaries, including loss making activities with or without existing management teams
Advising management and shareholders through right sizing the balance sheet