Industry Archives | Page 3 of 3

Highway Construction
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Highway Construction

Construction, Turnaround

Highway Construction

Situation A heavy highway construction company focused on a shrinking residential housing market wanted to reposition itself into the public bid utilities market in order to survive. Since the company’s strategies, operations management approach and financials did not support the shift into the desired market, they hired GGG as consultants. Action GGG provided a combination of operational, strategic and financial consulting services to guide the restructure of the company and meet its desired new market goals. The actions taken included selling excess equipment, restructuring debt agreements and management reporting, as well as introducing new metrics to insure the success of the company. Results With the help of GGG, Highway Construction [...]

gggpartners2017-11-25T16:29:38+00:00Construction, Turnaround|

First Home Brokerage, LLC
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First Home Brokerage, LLC

Financial

First Home Brokerage, LLC

Situation GGG was engaged by existing lenders to assess the viability of First Home Brokerage, LLC, a $100 million reseller of distressed middle-income housing in the outer boroughs of New York City. The fear was that First Home Brokerage was losing money and in danger of going out of business. Action After GGG determined that the company could only be saved with a significant infusion of new capital, the lenders requested that GGG liquidate the company. Results Foothill, the secured lender, was paid out in full, including all accrued fees; additional monies were available for sub-debt lenders as well.

gggpartners2017-11-20T16:27:58+00:00Financial|

Charter School of Arts and Sciences
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Charter School of Arts and Sciences

Education, Turnaround

Charter School of Arts and Sciences

Situation The Charter School of Arts and Sciences, one of the largest in the U.S., was experiencing severe losses. As a result, the school’s authorization was at risk. In addition, expansion had been financed with $30 million in secured tax-free bond financing. Action GGG was retained as Director of Organization. GGG worked closely with management and educators to re-engineer the cost structure of the school. In short order, the financial terms of numerous vendor contracts were reduced and payment plans were negotiated. Additionally, GGG, working intimately with the school’s CFO, bondholders and counsel, negotiating modified terms and forbearance of the bond issue. Results The school’s profitability, positive Fund Balance, was [...]

gggpartners2017-11-25T16:21:41+00:00Education, Turnaround|

C&C Technologies, Inc
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C&C Technologies, Inc

Industrial, Oil & Gas, Turnaround

C&C Technologies, Inc

Situation C&C Technologies (C&C) was the world’s largest privately owned Global Oil Sub-Sea Survey Services Company. Headquartered in Lafayette, LA, C&C serviced drilling operations across the globe, both on land and offshore. However, C&C’s expansion strained its infrastructure and working capital. Further growth in an asset-heavy environment, with complex projects located in increasingly remote locations, would require increased support. Action C&C engaged GGG to assess their business model and financial operations, with an eye toward restructuring and continued growth in the global market. With GGG’s support, the company developed a series of options regarding the future of its business. The company commenced a parallel restructuring effort while considering an offer [...]

gggpartners2017-11-25T16:20:41+00:00Industrial, Oil & Gas, Turnaround|

Benton-GA, Inc
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Benton-GA, Inc

TMA Turnaround, Turnaround, Utilities

Benton-GA, Inc

Situation Benton-GA, Inc., a utility contractor, experienced a booming business when the economy was expanding. However, after many years of profitability, unprofitable long-term contracts with major customers resulted in severe declines in cash flow and ultimately the business overall. The company’s position meant that it was unsustainable, and this put the operations of the utility company’s customers in jeopardy. Action Working closely with the owners of the company, GGG fulfilled roles as an advisor and CFO. This allowed GGG and Benton-GA to work through, or abandon, unprofitable contracts and ultimately reengineered the cost structure to accommodate prevailing economic conditions. Product lines were eliminated, vendor debt was renegotiated, a forbearance agreement with the [...]

gggpartners2017-11-25T16:17:12+00:00TMA Turnaround, Turnaround, Utilities|