Manufacturer of iron castings, forged and machined components composed of six, distinct operating companies.
Company over-leveraged after a series of acquisitions and a downturn in the economy.
Company needed assistance in recapitalization.
As debtor’s senior advisor, advised in the development of a “prepackaged” Chapter 11 Plan, built around bondholders’ agreement to exchange $285 million in senior subordinated notes for $100 million in new notes, 50 percent of newly issued common stock, and $30 million in cash.
Led senior management and financial advisors in preparation of a “rationalized” operating business plan for presentation to lenders.