Deloitte CRG Newsletter
Hot topics and trends in corporate restructuring
The Deloitte Corporate Restructuring Group (Deloitte CRG) Newsletter addresses the current state and outlook for the Deloitte CRG practice, including recent engagements, announcements, case studies, and upcoming events.
Deloitte CRG added two experienced senior lender restructuring advisers to enhance the Deloitte brand primarily in the New York City-centered lender market. Sean Cunningham and Bob Frezza were hired to co-lead the NY based senior lender advisory effort which rounds out the third leg of the restructuring “stool.” Deloitte CRG has further enhanced its experience and leadership to provide world class restructuring services to debtors and creditors throughout the capital structure as well as provide a full suite of investment banking services globally.
Distress deals present growing opportunity for senior living buyers
Featuring Louis E. Robichaux
Mid-sized senior living providers that are looking to grow have opted to build rather than buy lately, in part because they’ve been priced out of the acquisition market. But these operators soon could be seeing more opportunities to expand their footprints by purchasing—if they’re willing and able to navigate the more complex types of deals around distressed properties.
Warning signs of distress revealed: Steering by analytics tools and forecasting tools
By Vipul Adlakha and Kyle Richter
External pressures coupled with lack of planning/forecasting can lead companies to distress. See how these turnaround professionals view analytics as a vital tool to middle market companies as well as the importance of establishing strong data governance and financial planning strategies.
Cultivating employees often overlooked in turnarounds
The relationship between turnaround professionals and their clients’ personnel is delicate. Their interaction occurs on a day-to-day basis under difficult circumstances. While turnaround professional embrace the dynamics of a turnaround environment, most clients’ personnel find the situation highly stressful.
International mining company
Deloitte CRG was retained by one of the world’s leading vertically integrated manufacturers of custom-engineered rare earth and rare metal products to assist with its emergence accounting efforts. To assist the company, Deloitte CRG has assembled a cross-border team of specialists who are working closely with Deloitte LLP in Canada to be able to advise the company on various complex valuation, industry, and technical accounting items.
Deloitte CRG has been retained to focus on improving operations for a large domestic olive oil producer that has grown at double digit rates for the last five years. Deloitte CRG will assist the client implement a new inventory management process, rationalize SKUs, improve Sales and Operations Planning (S&OP), establish operations dashboards and shop floor controls, and improve the company’s new product introduction process. Additionally, the Deloitte Accounting and Reporting Transformation team has been engaged to assist in implementing a new ERP system and establishing better financial controls and processes.
Senior secured credit facility
Deloitte CRG was recently retained to provide financial advisory and restructuring services to the administrative agent of a $200 million senior secured credit facility. The borrower is a national, privately-held health care company that provides outpatient surgical services. Deloitte professionals are assisting the administrative agent evaluate the borrower’s near-term liquidity needs, business plan, financial projections, and turnaround initiatives. In connection with this engagement, our team is bringing its deep health care industry experience inside of Deloitte.
Deloitte CRG news
We are pleased to announce that two directors have joined Deloitte CRG to bolster our New York team. Sean Cunningham will lead CRG’s creditor rights practice. Bob Frezza will focus on financial restructuring and related advisory services.
Sean has more than 20 years of experience working directly for and providing restructuring advice and services to debtors, senior lenders, and unsecured creditors. He has advised lenders and companies in numerous complex Chapter 11 bankruptcy reorganizations, liquidations, and out-of-court settlements with a particular focus on advising senior lenders. Additionally, Sean has provided interim management services as chief restructuring officer (CRO) and chief operating officer (COO) of various entities.
Bob has more than 30 years of experience providing financial advisory services to clients across numerous industries in the US and Europe. He is highly experienced in leading creditors and debtors through complex restructuring engagements, both in out-of-court and in-court proceedings. Additionally, he has experience in M&A and refinancing transaction due diligence projects for private equity/hedge funds, private equity back portfolio companies, lenders, and acquisitive companies.
As used in this document, “Deloitte Advisory” means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. These entities are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
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